News Release
 March 27, 2008
CONTACT: Katie McKenna

Williamsville, NY – Tops Markets, LLC (Tops) officially announced today that the company will add as many as 140 jobs in Western New York and the company has signed a long-term lease to remain in its current operating headquarters in Williamsville, N.Y. Tops has also received a $1.2 million grant from the Empire State Development Corporation (ESDC) to assist with the job growth initiative.

The announcements were made at the Buffalo headquarters of the EDSC on Perry Street in Buffalo. Participating in the announcements were Tops President and CEO Frank Curci, New York State Gov. David Paterson, and Daniel C. Gundersen, upstate chairman of the ESDC.

“Ever since the sale of Tops Markets to Morgan Stanley Private Equity was announced last December, our goal has been to once again make Tops a local company. We now have a long-term commitment to a local headquarters and a growing local workforce,” Curci said. “Today’s grant announcement by the Empire State Development Corporation is a significant piece in our plan to handle all facets of Tops’ operations here. We thank our state and local economic development officials for their commitment to Tops Markets and the exciting path we are creating.”

The ESDC grant will assist Tops with costs associated with information technology and the acquisition and (more) installation of equipment and machinery at the headquarters. Tops has pledged to add as many as 140 jobs to its headquarters in Western New York and has committed to retaining the 145 employees who currently work at the headquarters. Tops will invest more than $5.4 million to create the jobs.

“Tops is re-establishing a robust headquarters here in the Buffalo area because it is, quite simply, a smart business decision. With this deal, Empire State Development, the Buffalo Niagara Enterprise, and local economic development partners are helping to pull jobs back from Pennsylvania to Western New York where they belong and ensuring that Tops remains a name brand for decades to come,” Gundersen said. “Let this be a message that we welcome home other firms that wish to return their full operations to a dynamic community in which to live, work, raise a family and grow a business.”

Specifically, Tops will add as many as 140 new positions at its headquarters, including associates to perform certain day-to-day operational responsibilities that have thus far been handled through a shared services agreement with Ahold USA, the former owners of Tops Markets. These functions, which include accounting, purchasing and information systems operations, are currently being performed in Carlisle, Pa. and will be transitioned to Tops’ local headquarters.

Morgan Stanley Private Equity acquired Tops Markets from Ahold in December 2007. Once Tops staff assumes responsibility for the accounting, purchasing and information systems activities, the shared services agreement with Ahold USA will end.

“The increase in jobs will be gradual as we assume responsibility for all operations and the Tops leadership team makes final decisions on areas within our business that are in need of additional staff support,” Curci added.

Tops’ current operating headquarters is located at 6363 Main Street in Williamsville, where the company leases 33,000 square feet of office space from National Fuel Gas Corporation. As part of the new lease agreement, Tops will add an additional 7,000 square feet of space on the second floor of the building to accommodate the employee growth. Terms of the lease agreement were not disclosed.

“We found it to be in the best interests of Tops and our valued customer base to stay local. After considering several possibilities it became clear that our best option was to remain and grow in our current location,” Curci said. “We thank National Fuel for working with us in accommodating our growth at the headquarters. We are eager to continue our strong partnership with them.” (more) Tops operating headquarters have been based at the Main Street location since 1994.

Previously, the Amherst Industrial Development Agency approved an incentive package for Tops Markets to assist with office renovation, and expansion and equipment acquisition.

Tops Markets, LLC, is headquartered in Williamsville, NY and operates 71 full-service supermarkets and five franchise supermarkets. With over 10,000 associates, Tops is the leading full-service grocery retailer in Western New York, Central New York, including Rochester, and Northwestern Pennsylvania. For more information about Tops Markets, visit the company's Web site at


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