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The Fresh Market plans to expand store count

A year after being acquired by Cencosud, there are plans to expand The Fresh Market's store count with 22 new locations in the next two years.

Parent company Cencosud celebrated a successful first anniversary, noting important financial and commercial synergies, achieving a total impact in financial statements of $75.8 million.

"In these 12 months, The Fresh Market has contributed with an adjusted EBITDA of $210 million and an adjusted EBITDA margin of 10.4 percent to the company's consolidated result, exceeding estimates," said Matías Videla, CEO of Cencosud. "In addition, during this quarter we opened the first store post-acquisition and plan to add 22 additional stores in the next 24 months."

Cencosud generally reported a solid performance in its financial results during the second quarter of the year, citing the successful consolidation of The Fresh Market in the United States as well as its international supermarket businesses.

"During the second quarter of 2023, and despite a challenging macroeconomic environment in Latin America and the United States, Cencosud continued to generate positive results by achieving revenue and EBITDA margin growth," said Videla.

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