“I can assure you that our commitment to sustaining and improving the communities in which we operate remains steadfast.” “I’ve seen tremendous change in our industry across my 65-year career and have long been an advocate for the promise of innovation and partnership, like that which has driven this merger forward,” said Neil Golub, Price Chopper/Market 32’s executive chairman. He said the stores will hiring due to the demand for supplies and food amid the COVID-19 pandemic. The companies will continue to operate in the near term under their current names, Grimmett told the Times Union in Albany, and he said layoffs are unexpected. The stores have little overlap: Price Chopper doesn't extend into western New York, where Tops is based, and Tops doesn't have as large a footprint as Price Chopper in the eastern side of the state.īut company executives said they expect strong synergy between their brands that will aid the stores' future. Financial terms of the transaction were not disclosed. The transaction is expected to close in the coming months, subject to regulatory approval and customary closing conditions. “We have long believed that this merger makes sense both strategically and based on the similar ways in which we each put customers first, go to market and treat our people,” Curci said in a statement. While Grimmett will head the new company out of Schenectady, Tops chairman Frank Curci will serve on the Board of Directors of the new parent company and as a consultant during the transition. The Price Chopper/Market 32 and Tops businesses will retain main offices in Schenectady and Williamsville, and the two will continue to be managed locally, the companies said in a news release. "We’re excited about what this merger means for our associates, customers and communities. Together we will be even better able to provide an exceptional shopping experience while continuing to give back to our communities." "It is business as usual," spokeswoman Kathy Sautter said in an email. The companies said it expects no immediate changes to its operations. Top Markets, based in Williamsville in Erie County, has 162 grocery stores in New York, Pennsylvania and Vermont, and 14,000 workers. They also have stores in Scranton area in Pennsylvania and into Vermont, Connecticut, Massachusetts, and New Hampshire. In New York, the stores are located through central New York, the Albany area and the Hudson Valley. Price Chopper, based in Schenectady and founded in 1932 by the Golub family, has 130 stores across the Northeast and 18,000 employees.
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