The merger of two major Northeast grocery store chains is complete. Price Chopper and Tops Markets announced an agreement in February involving nearly 300 stores and more than 30,000 employees across six states. The companies announced Federal Trade Commission approval of the merger Monday.
The headquarters of the joint company — Northeast Grocery, Incorporated — will be in Schenectady, where Price Chopper is based. Price Chopper also manages Market 32 and Market Bistro stores. Tops, based in Western New York, will maintain a regional office there. The stores will retain distinct branding.
Financial terms were not disclosed. Price Chopper’s President and CEO Scott Grimmett will oversee the new parent company, while former Tops’ CEO and Board Chairman Frank Curci will serve on the new company’s Board of Directors.
The companies say the regulatory review mandates the divestiture of 12 stores. C&S Wholesale Grocers has been approved to purchase all 12 former Tops locations, including stores in Cooperstown, Saranac Lake and Warrensburg, New York as well as Rutland, Vermont.
