Tops, Price Chopper (2021)
Price Chopper/Market 32 and Tops Markets announced a merger that brings 30,000 employees under one umbrella and nearly doubles the size of the Price Chopper chain, which is owned by the Golub Corporation.
According to the press release of the announcement today, the increased scale of the merged companies will give it better position to compete across the Northeast. Price Chopper/Market 32 has 163 stores across New York, Vermont, Connecticut, Pennsylvania, Massachusetts, and New Hampshire. Tops owns 162 stores in New York, Pennsylvania, and Vermont, including five that are run by franchisees, the press release says.
“There are no planned closings” of stores, said Mona Golub in an interview today. She is the vice president of public relations and consumer services for Price Chopper. The deal still has not closed and it must go through the regulatory process, she said. The stores’ borders are nearly contiguous meaning, in broad terms, that competing stores near one another will likely not be forced to close, sell or merge, she said.
Scott Grimmett, Price Chopper/Market 32’s President and CEO, will be CEO of, and serve on the Board of Directors of, the new parent company.
Also in leadership positions, according to the press release:
- Frank Curci, Tops Markets Chairman and CEO, will serve on the Board of Directors of the new parent company and as a consultant to assist in the transition.
- Blaine Bringhurst, Price Chopper/Market 32’s Executive Vice President of Merchandising, Marketing and Store Operations, will lead the Price Chopper/Market 32 business.
- John Persons, Tops Markets President and Chief Operating Officer, will lead the Tops Markets business.
“This merger marks a major step forward and collectively elevates our ability to compete on every level,” Grimmett said in a statement.
Price Chopper is based in Schenectady, N.Y., Tops in Williamsville, N.Y. The new company will have its headquarters in Schenectady, the release says.