
WILLIAMSVILLE, NY (Erie News Now) – The merger between Tops Markets and Price Chopper/Market 32 has been completed, according to an announcement Monday.
It comes after the finish of the regulatory review process and after approval from the Federal Trade Commission (FTC).
Both companies will be managed locally by existing leaders and keep their names, but they will be owned and overseen by a new parent company, Northeast Grocery, Inc.
Scott Grimmett, the current president and CEO of Price Chopper/Market 32, will lead the new parent company. He will also serve on its board of directors as well as Frank Curci, the former Tops Markets chairman and CEO.
“We’re appreciative of the FTC’s diligence in reviewing this merger and grateful to have received all of the necessary approvals. Now, we can dedicate ourselves to bringing these two storied grocery chains together, leveraging best practices, developing new opportunities, and finding efficiencies that will help us continue to deliver distinctive shopping experiences,” said Grimmett.
Twelve stores must be divested as part of the merger. C&S Wholesale Grocers (C&S) has been approved to purchase all of the stores, which are:
Cooperstown |
5 Commons Dr. |
Cooperstown, N.Y. 13326 |
Cortland |
3932 State Route 281 |
Cortland, N.Y.13045 |
Norwich |
54 E Main St. |
Norwich, N.Y. 13815 |
Owego |
1145 NY-17C |
Owego, N.Y. 13827 |
Peru |
50 S. Main St. |
Peru, N.Y. 12972 |
Rome |
217 Erie Blvd. W. |
Rome, N.Y. 13440 |
Rutland |
14 N. Main St. |
Rutland, V.T. 05701 |
Saranac Lake |
156 Church St. |
Saranac Lake, N.Y. 12972 |
Sherrill |
87 E State St. |
Sherrill, N.Y. 13461 |
South Watertown |
1330 Washington St |
S. Watertown, N.Y. 13601 |
Warrensburg |
3836 Main St. |
Warrensburg, N.Y. 12885 |
Watertown |
22050 Seaway Shopping Ctr. |
Watertown, N.Y. 13601 |
C&S will continue to recognize the union workforce at the locations.
Blaine Bringhurst will serve as president of Price Chopper/Market 32 and John Persons as the president of Tops Markets. Dave Langless, the chief financial officer of Tops, will serve as the parent company’s CFO.
Northeast Grocery, Inc. will be headquartered in Schenectady, N.Y., as will Price Chopper/Market 32. Tops Markets will retain its main office in Williamsville, N.Y.
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