Tops Friendly Markets has merged with Price Chopper.
Northeast Grocery, Inc. will be the new parent company of the two stores, however, the grocery chains will maintain separate brands.
Tops, which operates in New York, Pennsylvania and Vermont, with a large number of stores in the Buffalo and Rochester areas, will keep its main office in Williamsville.
Scott Grimmett, the current president and CEO of Price Chopper/Market 32, will lead the new parent company. He will also serve on its board of directors with former Tops Markets Chairman and CEO Frank Curci.
“We’re appreciative of the FTC’s diligence in reviewing this merger and grateful to have received all of the necessary approvals,” said Grimmett. “Now, we can dedicate ourselves to bringing these two storied grocery chains together, leveraging best practices, developing new opportunities, and finding efficiencies that will help us continue to deliver distinctive shopping experiences.”
“We believe that this merger will be a positive for our membership, preserving union jobs and strengthening the company’s prospects into the foreseeable future,” said Frank DeRiso, president of the UFCW Local One. “We are pleased that we have an agreement with the new owner and they are committed to retaining all of the existing union jobs and contracts. We would like to thank the office of the NYS Attorney General, Senator Chuck Schumer and our UFCW International Union for their guidance, assistance and cooperation during this complicated process. This merger will benefit both consumers and union members.”
The combined company will now operate nearly 300 stores across the northeast.