Tops acquires four Big M stores, converts nine Grand Union stores
Tops acquires four Big M stores, converts nine Grand Union stores
Tops Friendly Markets, a leading full-service grocery retailer in upstate New York, northern Pennsylvania and western Vermont, has completed the acquisition of four Big M supermarkets. The company has also converted nine former Grand Union supermarkets into Tops stores.
In March, Tops entered into an agreement with the Bonisteel family to acquire four Big M Supermarkets located in Boonville, Watertown, Sandy Creek and Adams, NY. This acquisition expands Tops' footprint farther into areas of northern and central New York state, and it follows Tops' previous acquisition of three Big M supermarkets located in Elbridge, Mexico, and Jordan, NY, earlier this year.
"We are excited about this growth opportunity for Tops, as we bring these new stores into the Tops family," Frank Curci, Tops Markets' president and chief executive officer, said in a press release. "These stores are a natural addition to our current footprint and we look forward to meeting the needs of our new neighbors and customers, providing them with a positive shopping experience that focuses on variety, freshness, convenience and exceptional value."
Curci added that Tops will pursue a capital improvement program and each of the four stores will be remodeled and will transition to the Tops banner by late June. There are 280 associates employed at these locations, and Tops has offered all associates at each of the four locations continued employment with Tops, and will continue to operate all stores without any interruption in service.
The nine Grand Union stores were part of a 21-store acquisition by Tops that was completed in July, 2012. The name change of the stores to Tops Friendly Markets was included in a rebranding effort announced in which all former Grand Union stores would be changed to Tops through the end of 2013.
“The entire Tops team has worked very hard to that ensure our new store customers will have a more enjoyable shopping experience as they see the many changes in the setting, amenities and an increased variety of products that our neighborhood stores will offer,” Curci said. “And we want to continue the tradition of being active members of the local community.”
