Published report has Tops Markets merging with Price Chopper/Market 32
According to an online story today in USA Today, Williamsville-based Tops Markets, with 162 grocery stores in New York, Pennsylvania and Vermont – including stores in Batavia and Le Roy – has agreed to a merger with Price Chopper/Market 32.
The megadeal of the two independent grocery chains would double their reach in the Northeast. Currently, Price Chopper, with headquarters in Schenectady, has 130 stores and 18,000 employees.
Tops, meanwhile, has 14,000 employees.
Scott Grimmett, chief executive officer of the new company, was quoted as saying “this merger marks a major step forward and collectively elevates our ability to compete on every level.”
USA Today reported that Grimmett will lead the merged company out of Schenectady, while Tops chairman Frank Curci will serve on the board of directors of the new parent company and as a consultant to assist in the transition. John Persons, Tops Markets president and CEO, will lead the Tops Markets business.
The transaction reportedly is expected to close in the coming months, subject to regulatory approval and customary closing conditions. Financial terms of the transaction were not disclosed.
Other Tops stores in this area are in Albion, Arcade, Attica, Avon, Dansville, Medina and Warsaw.
