{"id":34816,"date":"2021-11-14T15:06:38","date_gmt":"2021-11-14T20:06:38","guid":{"rendered":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/?p=34816"},"modified":"2021-12-13T20:35:08","modified_gmt":"2021-12-14T01:35:08","slug":"price-chopper-merger-with-tops-markets-is-complete-stores-will-keep-brand-identity","status":"publish","type":"post","link":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2021\/11\/price-chopper-merger-with-tops-markets-is-complete-stores-will-keep-brand-identity\/","title":{"rendered":"Price Chopper Merger With Tops Markets Is Complete; Stores Will Keep Brand Identity"},"content":{"rendered":"<figure id=\"attachment_34817\" aria-describedby=\"caption-attachment-34817\" style=\"width: 1044px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-34817\" src=\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/wp-content\/uploads\/sites\/109\/2021\/11\/price-chopper-merger-hc.jpg\" alt=\"\" width=\"1044\" height=\"720\" srcset=\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/wp-content\/uploads\/sites\/109\/2021\/11\/price-chopper-merger-hc.jpg 1044w, https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/wp-content\/uploads\/sites\/109\/2021\/11\/price-chopper-merger-hc-300x207.jpg 300w, https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/wp-content\/uploads\/sites\/109\/2021\/11\/price-chopper-merger-hc-1024x706.jpg 1024w, https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/wp-content\/uploads\/sites\/109\/2021\/11\/price-chopper-merger-hc-768x530.jpg 768w\" sizes=\"auto, (max-width: 1044px) 100vw, 1044px\" \/><figcaption id=\"caption-attachment-34817\" class=\"wp-caption-text\">This is the Tops Market store in Warrensburg. That chain has merged with Price Chopper.<br \/>Terry Williams<\/figcaption><\/figure>\n<p class=\"p1\"><span class=\"s1\">Price Chopper\/Market 32 and Tops Markets have announced the closure of their merger announced earlier this year.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Under the terms of the agreement, anniunced Nov. 8, the two companies will be managed locally by their respective leaders and continue to be referred to by their established brand identities, but will be owned and overseen by a new parent company, Northeast Grocery Inc. Scott Grimmett, current president and CEO of Price Chopper\/Market 32, will lead the new parent company.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">He will also serve on its board of directors as will Frank Curci, former Tops Markets chairman and CEO.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The agreement virtually doubles the two independent chains\u2019 collective footprint in the Northeast, with a total of nearly 300 stores. Financial terms of the deal were not disclosed.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">\u201cWe\u2019re appreciative of the FTC\u2019s diligence in reviewing this merger and grateful to have received all of the necessary approvals,\u201d said Grimmett. \u201cNow, 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,\u201d<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The regulatory review process by the FTC mandates the divestiture of 12 of the combined companies\u2019 stores, all Tops locations. Food distributor C&amp;S Wholesale Grocers has been approved to purchase all 12 stores, which will be operated by GU Markets LLC, an affiliate of C&amp;S Wholesale Grocers. C&amp;S will continue to recognize the union workforce at these locations.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">\u201cWe believe that this merger will be a positive for our membership, preserving union jobs and strengthening the company\u2019s prospects into the foreseeable future,\u201d said Frank DeRiso, president of the UFCW Local One. \u201cWe 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. This merger will benefit both consumers and union members.\u201d<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\"><span class=\"s2\"><!--more--><\/span>Blaine Bringhurst will serve as president of the Price Chopper\/Market 32 business and John Persons as the president of the Tops Markets business. Dave Langless, the chief financial officer of Tops, will serve as the parent company\u2019s CFO.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Northeast Grocery Inc. will be headquartered in Schenectady, as will Price Chopper\/Market 32. Tops Markets will retain its headquarters in Williamsville, N.Y.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Price Chopper\/Market 32 and Tops Markets have announced the closure of their merger announced earlier this year. Under the terms of the agreement, anniunced Nov. 8, the two companies will be managed locally by their respective leaders and continue to be referred to by their established brand identities, but will be owned and overseen by [&hellip;]<\/p>\n","protected":false},"author":89,"featured_media":34817,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-34816","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\r\n<title>Price Chopper Merger With Tops Markets Is Complete; Stores Will Keep Brand Identity - Glens Falls Business Journal<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2021\/11\/price-chopper-merger-with-tops-markets-is-complete-stores-will-keep-brand-identity\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Price Chopper Merger With Tops Markets Is Complete; Stores Will Keep Brand Identity - Glens Falls Business Journal\" \/>\r\n<meta property=\"og:description\" content=\"Price Chopper\/Market 32 and Tops Markets have announced the closure of their merger announced earlier this year. Under the terms of the agreement, anniunced Nov. 8, the two companies will be managed locally by their respective leaders and continue to be referred to by their established brand identities, but will be owned and overseen by [&hellip;]\" \/>\r\n<meta property=\"og:url\" content=\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2021\/11\/price-chopper-merger-with-tops-markets-is-complete-stores-will-keep-brand-identity\/\" \/>\r\n<meta property=\"og:site_name\" content=\"Glens Falls Business Journal\" \/>\r\n<meta property=\"article:published_time\" content=\"2021-11-14T20:06:38+00:00\" \/>\r\n<meta property=\"article:modified_time\" content=\"2021-12-14T01:35:08+00:00\" \/>\r\n<meta property=\"og:image\" content=\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/wp-content\/uploads\/sites\/109\/2021\/11\/price-chopper-merger-hc.jpg\" \/>\r\n\t<meta property=\"og:image:width\" content=\"1044\" \/>\r\n\t<meta property=\"og:image:height\" content=\"720\" \/>\r\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\r\n<meta name=\"author\" content=\"Jake Van Ness\" \/>\r\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\r\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jake Van Ness\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\r\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.glensfalls.com\\\/glensfallsbusinessjournal\\\/2021\\\/11\\\/price-chopper-merger-with-tops-markets-is-complete-stores-will-keep-brand-identity\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.glensfalls.com\\\/glensfallsbusinessjournal\\\/2021\\\/11\\\/price-chopper-merger-with-tops-markets-is-complete-stores-will-keep-brand-identity\\\/\"},\"author\":{\"name\":\"Jake Van Ness\",\"@id\":\"https:\\\/\\\/www.glensfalls.com\\\/glensfallsbusinessjournal\\\/#\\\/schema\\\/person\\\/a11ec438b5f0e57f1156754ba3931b86\"},\"headline\":\"Price Chopper Merger With Tops Markets Is Complete; 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