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Big Apple-area grocer Fairway Market has confidentially filed for an initial public offering (IPO) under its parent company, New York-based Fairway Group Holdings Corp, according to a published report.
No details were provided on Fairway's offering, which Reuters noted follows the success of such chains as Whole Foods Market and The Fresh Market, which have experienced share rises of 33 percent and 50 percent, respectively, in 2012.
Majority-owned by Westport, Conn.-based private equity firm Sterling Investment Partners, Fairway operates 11 stores in Connecticut, New Jersey and New York. A new store is slated to open this month in Westbury, N.Y., on New York’s Long Island.