Tops Friendly Markets has agreed to acquire 21 supermarkets in upstate New York and Vermont in a transaction expected to close by fall of this year.
Williamsville–based Tops plans to purchase the stores from GU Markets, LLC, which is an affiliate of Keene, N.H.–based C&S Wholesale Grocers, Inc. The move comes less than three years after Tops acquired Penn Traffic Co. of Syracuse and its grocery stores in bankruptcy court in 2010.
A majority of the stores Tops is acquiring from GU Markets are located in the eastern portion of New York state. One is in Hancock, about 40 miles southeast of Binghamton, and three are in New Hampshire.
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Tops does not have any immediate plans to change the acquired stores’ names. It will operate 20 under their current Grand Union banner and one under its banner of Bryant’s.
“We are very excited about this growth opportunity for Tops, especially since these stores are a natural extension of our current footprint,” Tops President and CEO Frank Curci said in a news release. “We are looking forward to having these stores and the surrounding communities become part of the Tops family.”
Financial terms of the transaction were not disclosed. Tops will operate 153 supermarkets after the deal closes.
Contact Seltzer at rseltzer@cnybj.com
