Apollo Struggles to Sell Food Retailer After Immigration Raids Hit Sales
APO sits 19% above its 52-week low of $99.56.
Summary
Apollo Global Management is reportedly struggling to sell its portfolio company, Hispanic food retailer Heritage Grocers Group. The challenge in divesting the asset is attributed to US immigration raids that have negatively impacted the retailer's sales. This situation highlights potential difficulties in Apollo's private equity exit strategies and could affect the performance of the fund holding this asset.
At the time of this announcement, APO was trading at $118.07 on NYSE in the Finance sector, with a market capitalization of approximately $68.1B. The 52-week trading range was $99.56 to $157.28. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.