Tops Markets to Sell 12 Stores
AMHERST, N.Y. -- Tops Markets, LLC, a unit of Ahold-owned Giant Food, based in Carlisle, Pa., has agreed to sell 12 of its eastern New York state stores to Keene, N.H.-based C&S Wholesale Grocers Inc., according to published reports. The purchase will be the biggest for the 31 New York stores that Tops put on the market in July. Terms of the deal were not revealed.
All of the stores will stay open until the deal closes and C&S takes them over in mid-February 2006. Among the stores being sold to C&S are two markets in Saranac Lake, along with others in Hamilton, Peru, Schroon Lake, and Chestertown.
Tops bought the 12 stores four years ago from the Grand Union chain. The current deal comes only a few months the supermarket company sold six stores to Schenectady-based Price Chopper and a further two locations to local operators.
Tops is selling off the stores as part of a strategy to concentrate on its core Western New York market. The company has yet to sell 11 stores in such locations as Norwich, Utica, Rome, Port Henry, Lake Placid, and Clinton, all of which will remain open and fully operational until they are sold.
Tops operates 146 stores under the Tops Friendly Markets name and four as Martin's Super Food Stores in New York, Ohio, and Pennsylvania.
All of the stores will stay open until the deal closes and C&S takes them over in mid-February 2006. Among the stores being sold to C&S are two markets in Saranac Lake, along with others in Hamilton, Peru, Schroon Lake, and Chestertown.
Tops bought the 12 stores four years ago from the Grand Union chain. The current deal comes only a few months the supermarket company sold six stores to Schenectady-based Price Chopper and a further two locations to local operators.
Tops is selling off the stores as part of a strategy to concentrate on its core Western New York market. The company has yet to sell 11 stores in such locations as Norwich, Utica, Rome, Port Henry, Lake Placid, and Clinton, all of which will remain open and fully operational until they are sold.
Tops operates 146 stores under the Tops Friendly Markets name and four as Martin's Super Food Stores in New York, Ohio, and Pennsylvania.