Fairway Group Said To Move Ahead With $200 Million IPO

Fairway Group Holdings Corp. (FWM), the supermarket chain focused on greater New York, plans to push ahead with its U.S. initial public offering next month, seeking as much as $200 million, said people familiar with the matter.

The 12-store chain owned by Sterling Investment Partners will set a price range for the IPO and begin pitching the sale to investors in the first week of April, said the people, who asked not to be named because the process is private.

The grocery chain, which sells organic baby food and local cheeses, is adding stores as more Americans seek natural foods and are more conscious of what they eat. U.S. consumers are increasingly demanding organic natural foods, according to a June 2012 report from IBISWorld Inc., even as U.S. grocery-store sales are forecast to be stagnant over the next four years.

To read the rest of the story, please go to: Bloomberg