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Tops Markets, LLC said late yesterday that it would sell six recently acquired stores to Schenectady, N.Y.-based Price Chopper Supermarkets. The stores were part of the January 2010 bankruptcy court-approved acquisition of a majority of fellow New York-based grocer Penn Traffic’s assets.
“As part of our initial evaluation of all Penn Traffic locations, it was determined these stores were on the outer edge of our geographic footprint and would best be served by another retailer with more familiarity with those markets,” explained Frank Curci, president and CEO of Williamsville, N.Y.
Five of the six stores are in the northern upstate New York towns of Canton, Gouverneur, Massena, Potsdam, and West Carthage. The sixth store is in Lincoln, N.H.
The deal is expected to close in about 30 days. Terms of the sale were not disclosed.
With over 10,000 associates, Tops operates 76 full-service supermarkets — 71 company-owned and five franchise locations — western New York; central New York, including Rochester; and Northwestern Pennsylvania.