Tops Friendly Markets completes acquisition
Tops Friendly Markets successfully completed the transition of five stores it acquired from Supermarket Management Inc., a longstanding franchise partner. These stores, now operating under the Tops Friendly Markets LLC banner, include four full-service Tops locations along with a Tops Xpress store.
The new Tops stores will keep their existing management teams, continue to employ all 585 associates across the five locations and maintain all their current in-store operations, including pharmacy services.
“We are thrilled to officially embark on this next chapter of our journey,” said Tops President Ron Ferri. “Adding SMI’s five locations to our existing footprint will not only strengthen our corporate store network and enable us to serve more customers across western New York, but also expand our Tops family.”
In the coming months, Tops will invest over $8 million in renovating at three of the stores. Leadership will then actively pursue future investments for the remaining stores.
