Tops Friendly Markets today announced it has completed the acquisition of four Big M supermarkets in Oneida, Oswego, and Jefferson counties.
In March, Tops, a Buffalo–area-based operator of grocery stores across upstate New York and two other states, entered into an agreement with the Bonisteel family to acquire four Big M supermarkets located in Boonville, Sandy Creek, Watertown, and Adams. Financial terms weren’t disclosed.
This acquisition expands Tops’ footprint further into areas of northern and central New York, the company said. And, it follows Tops’ previous acquisition of three Big M supermarkets located in Elbridge, Jordan, and Mexico earlier this year.
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“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 CEO, said in a news 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…”
Curci added that Tops will pursue a capital-improvement program and remodel each of the four stores. They are expected to come under the Tops banner by late June. The stores employ 280 people, and Tops says it has offered jobs to all employees at each of the four locations.
Tops Markets, LLC operates 159 full-service supermarkets — 154 company-owned and five franchise locations under the Tops, Grand Union, and Bryant’s banners. It runs grocery stores across upstate New York, northern Pennsylvania, and western Vermont. Tops has more than 15,000 employees.
The grocer initially expanded into Central New York in 2010 when it acquired P&C supermarkets from Syracuse–based Penn Traffic Co. in bankruptcy court.
Contact Rombel at arombel@cnybj.com
