Who owns price choppers

The stores will retain their names, the companies said. The new parent company will be headquartered in Schenectady. Tops spokesperson Kathy Sautter said the transaction is expected to close within several months, subject to regulatory approval. Financial terms of the merger were not disclosed. 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.

John Persons, Tops Markets president and chief operating officer, will lead the Tops Markets business. 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.

It was founded by the Golub family in Based in Williamsville, Tops operates grocery stores in New York, Pennsylvania and Vermont, including five that are run by franchisees. It is the largest private, for-profit employer in Western New York, with more than 14, employees. Rick Moriarty covers business news and consumer issues. Got a tip, comment or story idea? Together we will be even better able to provide an exceptional shopping experience while continuing to give back to our communities.

While Grimmett will head the new company out of Schenectady, Tops chairman Frank Curci will serve on the Board of Directors of the new parent company and as a consultant during the transition. 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. The stores have little overlap: Price Chopper doesn't extend into western New York, where Tops is based, and Tops doesn't have as large a footprint as Price Chopper in the eastern side of the state.

But company executives said they expect strong synergy between their brands that will aid the stores' future. The companies will continue to operate in the near term under their current names, Grimmett told the Times Union in Albany, and he said layoffs are unexpected. As one company, they can expand their buying power and find economies of scale that can better compete with Trader Joe's and retail stores like Walmart and Target that have been aggressive in the grocery business, he said.

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