{"id":83447,"date":"2021-02-15T09:47:24","date_gmt":"2021-02-15T14:47:24","guid":{"rendered":"http:\/\/www.owegopennysaver.com\/PS\/?p=83447"},"modified":"2021-02-15T09:47:24","modified_gmt":"2021-02-15T14:47:24","slug":"price-chopper-and-tops-announce-merger","status":"publish","type":"post","link":"http:\/\/www.owegopennysaver.com\/PS\/2021\/02\/15\/price-chopper-and-tops-announce-merger\/","title":{"rendered":"Price Chopper and Tops announce merger"},"content":{"rendered":"

Price Chopper\/Market 32 and Tops Markets announced last week that they have entered into a definitive merger agreement that creates a powerful alliance between the two storied independent grocery chains, as it nearly doubles their collective footprint in the Northeast.<\/p>\n

In a press release received last week, a spokesperson stated, \u201cThis transaction unites two iconic New York-based grocery chains with deep ties to their local communities and shared commitments to service, savings, and convenience. With increased scale across their almost perfectly contiguous footprints, the merged companies are expected to be better positioned to compete and offer even more value and outstanding services to their customers across the Northeast.\u201d<\/p>\n

Scott Grimmett, Price Chopper\/Market 32\u2019s president and CEO, will be CEO of and serve on the Board of Directors of the new parent company, which will oversee the operations of nearly 300 Price Chopper, Market 32, Market Bistro and Tops Markets stores and collectively employ more than 30,000 teammates. <\/p>\n

\"Price<\/a>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. <\/span><\/p>\n

Blaine Bringhurst, Price Chopper\/Market 32\u2019s 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.<\/p>\n

The new parent company will be headquartered in Schenectady, N.Y. The Price Chopper\/Market 32 and Tops Markets businesses will retain main offices in Schenectady and Williamsville and will continue to be managed locally by their respective leaders.<\/p>\n

\u201cThis merger marks a major step forward and collectively elevates our ability to compete on every level,\u201d said Scott Grimmett, adding, \u201cIt leverages increased value for our customers; advances shared opportunities for innovation; fortifies the depth of our workforce, community and trade partnerships; and ultimately accelerates our capacity to deliver a distinctively modern and convenient shopping experience. Given the vital role that supermarkets and their workforces play in our communities, particularly this past year, I am excited to lead the parent company of these two historic grocery retailers.\u201d   <\/p>\n

\u201cWe 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,\u201d said Frank Curci. \u201cWe look forward to working closely with the Price Chopper\/Market 32 team and together becoming an even stronger competitor with more scale, as we continue serving our customers and communities.\u201d<\/p>\n

\"Price<\/a>\u201cI\u2019ve 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,\u201d said Neil Golub, Price Chopper\/Market 32\u2019s executive chairman of the board. \u201cI can assure you that our commitment to sustaining and improving the communities in which we operate remains steadfast.\u201d<\/p>\n

\u201cTops has always put serving customers and providing an exceptional shopping experience at the center of everything we do, and this merger is no different,\u201d said John Persons. \u201cOur associates, who take pride in their work and recognize the importance of the role they play in taking care of customers and communities, will continue to be the backbone of our company.”<\/p>\n

With formative roots dating back to the 1920s, both Tops Markets and Price Chopper\/Market 32 have grown exponentially over the last century, building and acquiring stores across Upstate New York and throughout the Northeast. The merged companies are committed to serving their markets across the Northeast.<\/p>\n

The transaction is expected to close in the coming months, subject to regulatory approval and customary closing conditions. Financial terms of the transaction were not disclosed.<\/p>\n

In the meantime, there will be no change for now, and aren\u2019t any plans released for changes to the Tops Market location in Owego, N.Y., or to Price Chopper, located on W. Main Street in Owego.<\/p>\n

To learn more about Tops Markets, visit www.topsmarkets.com<\/a>.<\/p>\n

To learn more about Price Chopper\/ Market 32, visit www.pricechopper.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Price Chopper\/Market 32 and Tops Markets announced last week that they have entered into a definitive merger agreement that creates a powerful alliance between the…<\/p>\n","protected":false},"author":5,"featured_media":83449,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-83447","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nPrice Chopper and Tops announce merger - Owego Pennysaver Press<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/www.owegopennysaver.com\/PS\/2021\/02\/15\/price-chopper-and-tops-announce-merger\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Price Chopper and Tops announce merger - 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