News Release
FOR IMMEDIATE RELEASE:
DATE:
 March 4, 2010
CONTACT: Katie McKenna
kmckenna@topsmarkets.com

   
TOPS MARKETS ENTERS INTO AN AGREEMENT TO SELL SIX RECENTLY- ACQUIRED STORES TO PRICE CHOPPER MARKETS
Tops Friendly Markets, a leading full-service grocery retailer in Western New York, Central New York, including Rochester, and Northwestern Pennsylvania, announced today that it has entered into an agreement to sell six recently-acquired stores to Price Chopper Supermarkets of Schenectady, N.Y. These stores were part of the January 29, 2010 bankruptcy court-approved acquisition of a majority of 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,” said Frank Curci, Tops’ president and CEO.

Five of the six stores are located in northern New York State. They include Canton, Gouverneur, Massena, Potsdam, and West Carthage. There is one store located in Lincoln, N.H.

The transaction is expected to be complete in approximately 30 days. Terms of the sale were not disclosed.

Tops Markets, LLC, is headquartered in Williamsville, NY and operates 76 full-service supermarkets – 71 company-owned and five franchise locations. With over 10,000 associates, Tops is a leading full-service grocery retailer in Western New York, Central New York, including Rochester, and Northwestern Pennsylvania. In January 2010, Tops completed the acquisition of a majority of assets of Penn Traffic, including its 79 supermarkets. For more information about Tops Markets, visit the company's Web site at www.topsmarkets.com.

 

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