Tops Markets LLC
Encyclopedia
Tops Friendly Markets is an American supermarket
chain based in Williamsville
, New York
, with stores in the western
and central
regions of that state and in northern Pennsylvania
, Italy
. His family came to the United States
in 1920, and eventually settled in Niagara Falls
, where his father, Ferrante, opened a small neighborhood grocery store
.
Following his mother's death in 1933, Castellani left school to help manage the store. He continued to do so until joining the Army
in 1941. He attained the rank of captain after five years' service.
After World War II
, Castellani returned to the family business. In 1951, he set out on his own and opened the Great Bear Market in Niagara Falls. Shortly thereafter, he partnered
with Thomas Buscaglia, owner of a grocery equipment firm, T.A. Buscaglia Equipment Co. Throughout the 1950s, Buscaglia, as CEO, and Castellani worked together, entering into a cooperative agreement with other small stores to build the foundation of what was to become the Tops Friendly Markets chain.
As the local economy boomed in the mid-to-late 1950s, the company's operations expanded to include building construction principally devoted to supermarkets. During this time, Savino Nanula, a meat department manager, became an integral part of the company's management team.
By 1958, they had set up headquarters in Buffalo, and in 1960 opened their first modern supermarket: a 25,000 square foot (2,250 m²) store on Portage Road in Niagara Falls. The company then changed its name to Niagara Frontier Services (NFS).
and centralized purchasing to allow the company to grow efficiently.
In 1967, Buscaglia died and Armand Castellani took over as chief executive officer
.
The next year, NFS went public
, trading on the American Stock Exchange
. Subsequently, the company began construction on a perishable warehouse and acquired general merchandise distributor
G&G Sales and Service.
The following year, 1969, NFS entered the convenience store
market by opening the first Wilson Farms Neighborhood Food store in Tonawanda, New York
. The same year, Tops Friendly Markets was named Retailer of the Year by the Brand Names Foundation, an honor it would again earn in 1974.
area, and over time, it became the only real competitor to Wegmans in the region. Also during this time, Tops Friendly Markets opened its first Pennsylvania store in Bradford
.
In 1983, SB Investors, a private, New York-based investment group, purchased NFS. By this time, operations had grown to include 65 Tops stores, 50 Wilson Farms stores and 15 B-Kwik Food Stores, employing 7,000 associates.
The next year, Tops Friendly Markets introduced Western New York shoppers to direct debit
service, Instabank ATM
s and the first CarryOut Café. It was also the year that Tops won the first of eight Golden Penguin Award from the National Frozen Food
Association.
In 1985, Castellani was named Chairman of the Board and Nanula succeeded him as CEO. The following spring, SB Investors became known as Tops Friendly Markets, Inc., as the company went public for the second time, this time on NASDAQ
. The following year, as Tops Friendly Markets celebrated its 25th anniversary, a $196 million leveraged buyout
of the company was engineered between a group of Tops Friendly Markets executives and private equity
firm Riordan, Freeman & Spogli. In 1987, Tops installed electronic scanner
s, one of the last supermarkets to do so.
, a major international food retailer based in the Netherlands. The same year, the first Tops Friendly Markets International Super Center opened in Amherst
. At that time, the 112,000 square foot (10,080 m²) store was the largest in Western New York, and boasted the biggest in-store bakery
in the entire U.S.
In the next few years additional Tops Friendly Markets International stores opened in Niagara Falls, West Seneca, Greece, Perinton, and Ithaca, NY. Also, an International store was opened in Lockport, NY, but does not carry the International name. This is because it is a franchised location. The International stores feature additional floor space and a product mix of many foods from different world cultures which up until then had not been widely available in the Buffalo area. With many Canadians
at the time regularly crossing the border due to relaxed duties after the recently-concluded Canada-United States Free Trade Agreement
and the Canadian dollar
at 90% of the value to its American counterpart, the new stores were in the right place at the right time and did even better business than expected.
The 1990s were marked by a new growth in operations, including the 1996 merger with Finast
in Northeast Ohio, expansion across New York, the construction of a new headquarters in Williamsville, NY and the opening of an 848,000 square foot (76,320 m²) distribution center in Lancaster
. By 1998, Tops Friendly Market's market area stretched from Sandusky, Ohio
, to Utica
. In January 1999, the BonusCard, its customer loyalty program, debuted. In May
, all 45 Northeast Ohio Finast stores adopted the Tops Friendly Markets banner.
Tops Friendly Markets entered into the new millennium by acquiring the Sugarcreek Stores chain, adding 87 stores to its Wilson Farms division. That summer, Tops installed self-scanning checkouts at 11 stores in Ohio and in late August, the first Tops fueling station premiered in Akron
.
In 2001, Tops acquired 22 former Grand Union stores in the Adirondack region and in Central New York, further east than its market had traditionally been. They also introduced the Tops Xpress convenience store format. By the end of the year, the company celebrated another landmark with the opening of its 150th Tops store, located in Madison, Ohio
.
acquired three, and twelve returned to the Grand Union
division of C&S Wholesale Grocers.
, and rebranded it Martin's Super Food Store in an effort to revitalize the marketplace. Martin's
is a brand owned by Tops Friendly Market'- then-parent company, Ahold
, via their subsidiary Giant-Carlisle. The stores were designed in a colorful manner in order to attract both new and old customers. The format worked well for the company, which prompted them to remodel another location in the Buffalo suburb
of Amherst
into the Martin's Super Food Store format, and then later three other stores in Dunkirk-Fredonia
, Derby
, and Batavia
. As of April 16, 2006, the Martin's Super Food Store in Amherst reverted back to a Tops Market due to customer feedback, and the company announced it would no longer pursue the Martin's brand in New York.
As of February 28, 2008, the remaining Martin's locations were all returned to the Tops Friendly Markets brand as part of the sale to Morgan Stanley Private Equity. The decision was made to operate the company under one banner going forward.
On July 6, 2006, Ahold announced its decision to exit the Northeast Ohio
market, which consisted of 46 locations. The 46 stores were located in Greater Cleveland
, Akron
, Youngstown
and Norwalk
and at the time employed approximately 3,800 full and part-time employees. Tops announced on October 10, 2006 that 18 of its Ohio stores were sold to rival Giant Eagle
. An additional store in Sheffield, Ohio
was reportedly sold on November 29, 2006. The store in Tallmadge, Ohio
was sold to local competitor Acme Fresh Market
. On November 9 in a company press release, it was stated that all Tops stores in Northeast Ohio will close whether they have been sold or not. A store in Cleveland's Lee-Harvard Neighborhood and a store in Garfield Heights
were converted to Dave's Markets
, a small independently owned chain of grocery stores in Cleveland. In June, the Tops store in Cleveland Heights became a Dave's. All Northeast Ohio stores closed by 3 pm on December 8, 2006 and some remain unoccupied.
and Stop & Shop
.
On November 7, 2006, it was reported that Price Chopper may buy the chain. It had previously bought six former locations.
On May 25, 2007, well-known grocery industry consultant Burt P. Flickinger III announced that he is part of a group of investors interested in purchasing the Tops Markets chain. Flickinger's family co-financed the first 60 Tops Friendly Markets stores that opened, and stated that he hopes to restore the local focus that Tops was originally known for.
On June 1, 2007, it was reported that Tops Friendly Markets agreed to repurchase its Lancaster warehouse from C&S Wholesale Grocers, Inc. C&S will continue to operate and manage the warehouse. Max Henderson, Executive Vice President and General Manager of Tops Markets, stated that he hoped repurchasing the warehouse would make Tops more attractive to a potential buyer.
On October 11, 2007, Ahold announced the sale of Tops Friendly Markets, LLC to Morgan Stanley Private Equity in a transaction valued at $310 million. Morgan Stanley agreed to purchase 71 of the 72 stores in the chain. The Baytowne Plaza store in Penfield, New York
, known to Tops associates as the "Webster store", was not part of the transaction. The owners of the Baytowne Plaza notified all of their tenants that they would not be allowed to renew their lease upon expiration, and Tops Markets closed the doors of their store to the public on October 27, 2007.
Private Equity became the new owner of Tops Markets. Ahold
's subsidiary Giant Food of Carlisle provided operational and support services for up to one year after the sale. Max Henderson, Executive Vice President of Tops, resigned his position from the company, and Frank Curci, a former Tops Friendly Markets CEO, returned as CEO of the company.
Tops Friendly Markets plans to bring back approximately 100 corporate positions in marketing, merchandising and finance to Buffalo, NY. Recently, those positions have been run out of Carlisle, PA by Giant Food. Existing stores will resume upgrades and remodeling, and plans for new stores are in the works as well, including the addition of Tim Hortons
full-service restaurant or a self-serve kiosk as well as Anchor Bar
wings. A growth rate of more than 10% is expected over the next four to five years.
In 2009, it was announced that the chain would open a new store in Spencerport, NY. This is the first time since the Morgan Stanley acquisition that the chain has opened a new store. It opened on August 18, 2010.
and on January 25, 2010 a federal judge signed off on an agreement in US Bankruptcy Court for the sale of same. The purchase will stretch the company's footprint from Pennsylvania to New Hampshire. The Penn Traffic deal was for 79 stores, but Tops is closing four stores within two months, in addition to one in Ogdensburg, NY. In March 2010, it was announced that an additional five stores, including one in Ithaca, New York
, would close. Five in Pennsylvania were sold to Giant Eagle
The Tops name will be placed on remaining stores within the next year. In August 2010, Tops was ordered by the Federal Trade Commission
to sell seven stores it had acquired from Penn Traffic due to anticompetitive concerns.
slogan
(first used in the late 1980s) is "Tops Never Stops ... Saving You More!" The slogan, temporarily put on hiatus in 2001, was brought back and refreshed in 2006, as "Tops Never Stops ... Giving You More!". In 2010 the company again changed the slogan to "Your Neighborhood Store, with More". The company logo
was originally a spinning top, and is still reflected in the diamond design used today.
Supermarket
A supermarket, a form of grocery store, is a self-service store offering a wide variety of food and household merchandise, organized into departments...
chain based in Williamsville
Williamsville, New York
Williamsville is a village in Erie County, New York in the United States. The population was 5,573 at the 2000 census. The village is named after Jonas Williams, an early settler...
, New York
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
, with stores in the western
Western New York
Western New York is the westernmost region of the state of New York. It includes the cities of Buffalo, Rochester, Niagara Falls, the surrounding suburbs, as well as the outlying rural areas of the Great Lakes lowlands, the Genesee Valley, and the Southern Tier. Some historians, scholars and others...
and central
Central New York
Central New York is a term used to broadly describe the central region of New York State, roughly including the following counties and cities:...
regions of that state and in northern Pennsylvania
Pennsylvania
The Commonwealth of Pennsylvania is a U.S. state that is located in the Northeastern and Mid-Atlantic regions of the United States. The state borders Delaware and Maryland to the south, West Virginia to the southwest, Ohio to the west, New York and Ontario, Canada, to the north, and New Jersey to...
Early years
Tops Friendly Markets was co-founded by Armand Castellani, who was born in 1917 in a village outside of RomeRome
Rome is the capital of Italy and the country's largest and most populated city and comune, with over 2.7 million residents in . The city is located in the central-western portion of the Italian Peninsula, on the Tiber River within the Lazio region of Italy.Rome's history spans two and a half...
, Italy
Italy
Italy , officially the Italian Republic languages]] under the European Charter for Regional or Minority Languages. In each of these, Italy's official name is as follows:;;;;;;;;), is a unitary parliamentary republic in South-Central Europe. To the north it borders France, Switzerland, Austria and...
. His family came to the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
in 1920, and eventually settled in Niagara Falls
Niagara Falls, New York
Niagara Falls is a city in Niagara County, New York, United States. As of the 2010 census, the city had a total population of 50,193, down from the 55,593 recorded in the 2000 census. It is across the Niagara River from Niagara Falls, Ontario , both named after the famed Niagara Falls which they...
, where his father, Ferrante, opened a small neighborhood grocery store
Grocery store
A grocery store is a store that retails food. A grocer, the owner of a grocery store, stocks different kinds of foods from assorted places and cultures, and sells these "groceries" to customers. Large grocery stores that stock products other than food, such as clothing or household items, are...
.
Following his mother's death in 1933, Castellani left school to help manage the store. He continued to do so until joining the Army
United States Army
The United States Army is the main branch of the United States Armed Forces responsible for land-based military operations. It is the largest and oldest established branch of the U.S. military, and is one of seven U.S. uniformed services...
in 1941. He attained the rank of captain after five years' service.
After World War II
World War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
, Castellani returned to the family business. In 1951, he set out on his own and opened the Great Bear Market in Niagara Falls. Shortly thereafter, he partnered
Partnership
A partnership is an arrangement where parties agree to cooperate to advance their mutual interests.Since humans are social beings, partnerships between individuals, businesses, interest-based organizations, schools, governments, and varied combinations thereof, have always been and remain commonplace...
with Thomas Buscaglia, owner of a grocery equipment firm, T.A. Buscaglia Equipment Co. Throughout the 1950s, Buscaglia, as CEO, and Castellani worked together, entering into a cooperative agreement with other small stores to build the foundation of what was to become the Tops Friendly Markets chain.
As the local economy boomed in the mid-to-late 1950s, the company's operations expanded to include building construction principally devoted to supermarkets. During this time, Savino Nanula, a meat department manager, became an integral part of the company's management team.
By 1958, they had set up headquarters in Buffalo, and in 1960 opened their first modern supermarket: a 25,000 square foot (2,250 m²) store on Portage Road in Niagara Falls. The company then changed its name to Niagara Frontier Services (NFS).
1960s
In 1962, franchise systems were established for supermarkets, under the Tops Friendly Markets name, and for smaller stores as B-Kwik. In February of that year, Tops signs went up on seven stores, and the chain was born. By the end of the year, NFS was composed of 15 franchised stores throughout Western New York, employing a total of 300 associates. Throughout the 1960s, NFS implemented warehousingWarehouse
A warehouse is a commercial building for storage of goods. Warehouses are used by manufacturers, importers, exporters, wholesalers, transport businesses, customs, etc. They are usually large plain buildings in industrial areas of cities and towns. They usually have loading docks to load and unload...
and centralized purchasing to allow the company to grow efficiently.
In 1967, Buscaglia died and Armand Castellani took over as chief executive officer
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
.
The next year, NFS went public
Initial public offering
An initial public offering or stock market launch, is the first sale of stock by a private company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises...
, trading on the American Stock Exchange
American Stock Exchange
NYSE Amex Equities, formerly known as the American Stock Exchange is an American stock exchange situated in New York. AMEX was a mutual organization, owned by its members. Until 1953, it was known as the New York Curb Exchange. On January 17, 2008, NYSE Euronext announced it would acquire the...
. Subsequently, the company began construction on a perishable warehouse and acquired general merchandise distributor
Distribution (business)
Product distribution is one of the four elements of the marketing mix. An organization or set of organizations involved in the process of making a product or service available for use or consumption by a consumer or business user.The other three parts of the marketing mix are product, pricing,...
G&G Sales and Service.
The following year, 1969, NFS entered the convenience store
Convenience store
A convenience store, corner store, corner shop, commonly called a bodega in Spanish-speaking areas of the United States, is a small store or shop in a built up area that stocks a range of everyday items such as groceries, toiletries, alcoholic and soft drinks, and may also offer money order and...
market by opening the first Wilson Farms Neighborhood Food store in Tonawanda, New York
Tonawanda, New York
Tonawanda may refer to:*Glacial Lake Tonawanda*North Tonawanda, New York, a city in Niagara County, north across Tonawanda Creek from the City and Town*Tonawanda , New York, consisting of the Town of Tonawanda less the Village of Kenmore...
. The same year, Tops Friendly Markets was named Retailer of the Year by the Brand Names Foundation, an honor it would again earn in 1974.
1970s-80s
The 1970s saw Tops Friendly Markets, under the leadership of Castellani and Nanula, continue to grow in Western New York, and thrive where competitors struggled. Early in the decade, Tops began to build more company-owned stores. By the mid-70s, the company had expanded into the RochesterRochester, New York
Rochester is a city in Monroe County, New York, south of Lake Ontario in the United States. Known as The World's Image Centre, it was also once known as The Flour City, and more recently as The Flower City...
area, and over time, it became the only real competitor to Wegmans in the region. Also during this time, Tops Friendly Markets opened its first Pennsylvania store in Bradford
Bradford, Pennsylvania
Bradford is a small city located in rural McKean County, Pennsylvania, in the United States 78 miles south of Buffalo, New York. Settled in 1823, Bradford was chartered as a city in 1879 and emerged as a wild oil boomtown in the Pennsylvanian oil rush in the late 19th century...
.
In 1983, SB Investors, a private, New York-based investment group, purchased NFS. By this time, operations had grown to include 65 Tops stores, 50 Wilson Farms stores and 15 B-Kwik Food Stores, employing 7,000 associates.
The next year, Tops Friendly Markets introduced Western New York shoppers to direct debit
Debit
Debit and credit are the two aspects of every financial transaction. Their use and implication is the fundamental concept in the double-entry bookkeeping system, in which every debit transaction must have a corresponding credit transaction and vice versa.Debits and credits are a system of notation...
service, Instabank ATM
Automated teller machine
An automated teller machine or automatic teller machine, also known as a Cashpoint , cash machine or sometimes a hole in the wall in British English, is a computerised telecommunications device that provides the clients of a financial institution with access to financial transactions in a public...
s and the first CarryOut Café. It was also the year that Tops won the first of eight Golden Penguin Award from the National Frozen Food
Frozen food
Freezing food preserves it from the time it is prepared to the time it is eaten. Since early times, farmers, fishermen, and trappers have preserved their game and produce in unheated buildings during the winter season. Freezing food slows down decomposition by turning water to ice, making it...
Association.
In 1985, Castellani was named Chairman of the Board and Nanula succeeded him as CEO. The following spring, SB Investors became known as Tops Friendly Markets, Inc., as the company went public for the second time, this time on NASDAQ
NASDAQ
The NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the second-largest stock exchange by market capitalization in the world, after the New York Stock Exchange. As of...
. The following year, as Tops Friendly Markets celebrated its 25th anniversary, a $196 million leveraged buyout
Leveraged buyout
A leveraged buyout occurs when an investor, typically financial sponsor, acquires a controlling interest in a company's equity and where a significant percentage of the purchase price is financed through leverage...
of the company was engineered between a group of Tops Friendly Markets executives and private equity
Private equity
Private equity, in finance, is an asset class consisting of equity securities in operating companies that are not publicly traded on a stock exchange....
firm Riordan, Freeman & Spogli. In 1987, Tops installed electronic scanner
Barcode reader
A barcode reader is an electronic device for reading printed barcodes. Like a flatbed scanner, it consists of a light source, a lens and a light sensor translating optical impulses into electrical ones...
s, one of the last supermarkets to do so.
1990s
A new era began March 27, 1991 as Tops Friendly Markets, which had grown to 145 total stores and 11,000 associates, was acquired by AholdAhold
Ahold is a major international supermarket operator based in Amsterdam, Netherlands. Ahold is listed on Euronext Amsterdam and the Frankfurt Stock Exchange.-History:...
, a major international food retailer based in the Netherlands. The same year, the first Tops Friendly Markets International Super Center opened in Amherst
Amherst, New York
Amherst is a town in Erie County, New York, United States. As of the 2010 census, the town had a total population of 122,366. This represents an increase of 5.0% from the 2000 census. The town is named for Jeffrey Amherst, a British Army officer of the colonial period...
. At that time, the 112,000 square foot (10,080 m²) store was the largest in Western New York, and boasted the biggest in-store bakery
Bakery
A bakery is an establishment which produces and sells flour-based food baked in an oven such as bread, cakes, pastries and pies. Some retail bakeries are also cafés, serving coffee and tea to customers who wish to consume the baked goods on the premises.-See also:*Baker*Cake...
in the entire U.S.
In the next few years additional Tops Friendly Markets International stores opened in Niagara Falls, West Seneca, Greece, Perinton, and Ithaca, NY. Also, an International store was opened in Lockport, NY, but does not carry the International name. This is because it is a franchised location. The International stores feature additional floor space and a product mix of many foods from different world cultures which up until then had not been widely available in the Buffalo area. With many Canadians
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
at the time regularly crossing the border due to relaxed duties after the recently-concluded Canada-United States Free Trade Agreement
Canada-United States Free Trade Agreement
The Free Trade Agreement was a trade agreement signed by Canada and the United States on October 4, 1988. The agreement, finalized by October 1987, removed several trade restrictions in stages over a ten year period, and resulted in a great increase in cross-border trade...
and the Canadian dollar
Canadian dollar
The Canadian dollar is the currency of Canada. As of 2007, the Canadian dollar is the 7th most traded currency in the world. It is abbreviated with the dollar sign $, or C$ to distinguish it from other dollar-denominated currencies...
at 90% of the value to its American counterpart, the new stores were in the right place at the right time and did even better business than expected.
The 1990s were marked by a new growth in operations, including the 1996 merger with Finast
Finast
Finast was a retail supermarket brand that existed in the northeastern United States until being absorbed by Edwards and its Dutch parent Royal Ahold in the mid-1990s. Finast was an acronym for First National Stores. Despite the acronym, many referred to the store as "The First National"...
in Northeast Ohio, expansion across New York, the construction of a new headquarters in Williamsville, NY and the opening of an 848,000 square foot (76,320 m²) distribution center in Lancaster
Lancaster (town), New York
Lancaster is a town in Erie County, New York, USA. As of the 2000 census, the town population has 39,019 residents.The Town of Lancaster has a village also called Lancaster. The Town and Village are currently exploring consolidation of governmental functions. Both town and village are east of...
. By 1998, Tops Friendly Market's market area stretched from Sandusky, Ohio
Sandusky, Ohio
Sandusky is a city in the U.S. state of Ohio and the county seat of Erie County. It is located in northern Ohio and is situated on the shores of Lake Erie, almost exactly half-way between Toledo to the west and Cleveland to the east....
, to Utica
Utica, New York
Utica is a city in and the county seat of Oneida County, New York, United States. The population was 62,235 at the 2010 census, an increase of 2.6% from the 2000 census....
. In January 1999, the BonusCard, its customer loyalty program, debuted. In May
May 1999
May 1999 was a month with thirty-one days.The following events also occurred during the month:...
, all 45 Northeast Ohio Finast stores adopted the Tops Friendly Markets banner.
Tops Friendly Markets entered into the new millennium by acquiring the Sugarcreek Stores chain, adding 87 stores to its Wilson Farms division. That summer, Tops installed self-scanning checkouts at 11 stores in Ohio and in late August, the first Tops fueling station premiered in Akron
Akron, Ohio
Akron , is the fifth largest city in the U.S. state of Ohio and the county seat of Summit County. It is located in the Great Lakes region approximately south of Lake Erie along the Little Cuyahoga River. As of the 2010 census, the city had a population of 199,110. The Akron Metropolitan...
.
In 2001, Tops acquired 22 former Grand Union stores in the Adirondack region and in Central New York, further east than its market had traditionally been. They also introduced the Tops Xpress convenience store format. By the end of the year, the company celebrated another landmark with the opening of its 150th Tops store, located in Madison, Ohio
Madison, Ohio
Madison is a village in Lake County, Ohio, in the United States. As of the 2000 census, the village population was 2,921.-Geography:Madison is located at .According to the United States Census Bureau, the village has a total area of , all of it land....
.
2000s
This aggressive growth was fueled in part by deliberate understatements of Ahold's debt to the financial markets. When this came to light in 2003, Tops was forced to backtrack. By 2005 the convenience stores had been sold to WFI Acquisition Inc., which continues to operate the stores under their former names, and Tops Friendly Markets was also looking to sell the 31 stores it had established in the Adirondack region. P&C Foods acquired 2, Price Chopper acquired six, HannafordHannaford Bros. Co.
Hannaford is an American supermarket chain based in Scarborough, Maine. Founded in 1883, Hannaford now operates stores in New England and upstate New York. Formerly known as Shop 'N' Save, Hannaford is owned by the American subsidiary of the Belgian Delhaize Group, Delhaize America, which owns over...
acquired three, and twelve returned to the Grand Union
Grand Union (stores)
Grand Union is a supermarket chain operated by C&S Wholesale Grocers of Brattleboro, Vermont. Originally based in Elmwood Park, New Jersey , the company operated mostly in the northeastern United States but at times its reach extended into the Midwest, Southeast, and the Caribbean...
division of C&S Wholesale Grocers.
Martin's Super Food Stores
In 2004, Tops Friendly Markets fully remodeled a store in PerintonPerinton, New York
Perinton is a town in Monroe County, New York, United States. The population was 46,090 at the 2000 census.The Village of Fairport, New York is within the town on the Erie Canal. Perinton is adjacent to the village of East Rochester , and the towns of Victor , Macedon , Pittsford , and Penfield...
, and rebranded it Martin's Super Food Store in an effort to revitalize the marketplace. Martin's
Martin's
Martin's may refer to the following:Retailers*Martin's Super Markets, a grocery chain headquartered in South Bend, Indiana*Martin's Food Markets, a grocery chain operated by Giant-Carlisle*Martin's , UK newsagent...
is a brand owned by Tops Friendly Market'- then-parent company, Ahold
Ahold
Ahold is a major international supermarket operator based in Amsterdam, Netherlands. Ahold is listed on Euronext Amsterdam and the Frankfurt Stock Exchange.-History:...
, via their subsidiary Giant-Carlisle. The stores were designed in a colorful manner in order to attract both new and old customers. The format worked well for the company, which prompted them to remodel another location in the Buffalo suburb
Suburb
The word suburb mostly refers to a residential area, either existing as part of a city or as a separate residential community within commuting distance of a city . Some suburbs have a degree of administrative autonomy, and most have lower population density than inner city neighborhoods...
of Amherst
Amherst, New York
Amherst is a town in Erie County, New York, United States. As of the 2010 census, the town had a total population of 122,366. This represents an increase of 5.0% from the 2000 census. The town is named for Jeffrey Amherst, a British Army officer of the colonial period...
into the Martin's Super Food Store format, and then later three other stores in Dunkirk-Fredonia
Dunkirk (city), New York
Dunkirk is a city in Chautauqua County, New York in the USA. It was officially incorporated in 1880, though it was first settled around 1805. The population was 12,563 at the 2010 census. Dunkirk is bordered on the north by Lake Erie. It shares a border with the Village of Fredonia to the south,...
, Derby
Derby, New York
Derby, New York is a hamlet in Erie County, New York, USA. It is the Postal Address for much of the Town of Evans, within which Derby is fully contained. The Derby zip code is 14047. Derby is also home to the North Evans fire District which includes Highland Hose Volunteer Fire Company and the...
, and Batavia
Batavia (city), New York
Batavia is a city in Genesee County, Western New York, USA, located near the middle of Genesee County, entirely within the Town of Batavia. Its population as of the 2000 census was 16,256...
. As of April 16, 2006, the Martin's Super Food Store in Amherst reverted back to a Tops Market due to customer feedback, and the company announced it would no longer pursue the Martin's brand in New York.
As of February 28, 2008, the remaining Martin's locations were all returned to the Tops Friendly Markets brand as part of the sale to Morgan Stanley Private Equity. The decision was made to operate the company under one banner going forward.
Store Closings
Greater Cleveland
Greater Cleveland is a nickname for the metropolitan area surrounding Cleveland, Ohio and is part of what used to be the Connecticut Western Reserve.Northeast Ohio refers to a similar but substantially larger area as described below...
market, which consisted of 46 locations. The 46 stores were located in Greater Cleveland
Cleveland, Ohio
Cleveland is a city in the U.S. state of Ohio and is the county seat of Cuyahoga County, the most populous county in the state. The city is located in northeastern Ohio on the southern shore of Lake Erie, approximately west of the Pennsylvania border...
, Akron
Akron, Ohio
Akron , is the fifth largest city in the U.S. state of Ohio and the county seat of Summit County. It is located in the Great Lakes region approximately south of Lake Erie along the Little Cuyahoga River. As of the 2010 census, the city had a population of 199,110. The Akron Metropolitan...
, Youngstown
Youngstown, Ohio
Youngstown is a city in the U.S. state of Ohio and the county seat of Mahoning County; it also extends into Trumbull County. The municipality is situated on the Mahoning River, approximately southeast of Cleveland and northwest of Pittsburgh, Pennsylvania...
and Norwalk
Norwalk, Ohio
At the 2000 census, there were 16,238 people, 6,377 households and 4,234 families residing in the city. The population density was 1,950.3 per square mile . There were 6,687 housing units at an average density of 803.1 per square mile...
and at the time employed approximately 3,800 full and part-time employees. Tops announced on October 10, 2006 that 18 of its Ohio stores were sold to rival Giant Eagle
Giant Eagle
Giant Eagle, Inc., is a supermarket chain with stores in the U.S. states of Pennsylvania, Ohio, West Virginia, and Maryland. The company was founded in 1918 in Pittsburgh, Pennsylvania. Supermarket News ranked Giant Eagle No. 21 in the 2009 "Top 75 North American Food Retailers" based on 2008...
. An additional store in Sheffield, Ohio
Sheffield, Ohio
-Notable residents:* Lee Richmond - a 19th century major league baseball pitcher, was born in Sheffield....
was reportedly sold on November 29, 2006. The store in Tallmadge, Ohio
Tallmadge, Ohio
As of the census of 2000, there were 16,390 people, 6,273 households, and 4,711 families residing in the city. The population density was 1,173.9 people per square mile . There were 6,494 housing units at an average density of 465.1 per square mile...
was sold to local competitor Acme Fresh Market
Acme Fresh Market
Akron, Ohio grocery chain. For the unrelated Philadelphia-area chain, see Acme Markets.Acme Fresh Market is a grocery store chain with 16 locations in Northeast Ohio serving Portage, Stark, Summit, & Cuyahoga Counties...
. On November 9 in a company press release, it was stated that all Tops stores in Northeast Ohio will close whether they have been sold or not. A store in Cleveland's Lee-Harvard Neighborhood and a store in Garfield Heights
Garfield Heights, Ohio
Garfield Heights is a city in Cuyahoga County, Ohio, United States. The population was 28,849 at the time of the 2010 census.-Geography:Garfield Heights is located at ....
were converted to Dave's Markets
Dave's Markets
Daves Markets, Inc. is a family-owned and operated regional supermarket chain in Greater Cleveland, Ohio. It currently has 14 locations.-History:...
, a small independently owned chain of grocery stores in Cleveland. In June, the Tops store in Cleveland Heights became a Dave's. All Northeast Ohio stores closed by 3 pm on December 8, 2006 and some remain unoccupied.
Sale
Ahold announced on November 6, 2006 that the remaining 72 stores in the Tops chain, in New York and Pennsylvania, would be sold. Although they have been profitable, it is a strategic decision for Ahold to focus on other chains such as GiantGiant Food of Carlisle, Pennsylvania
Giant Food Stores, LLC is an American supermarket chain that currently operates stores in Pennsylvania, Maryland, Virginia, and West Virginia under the names of Giant, FoodSource, and Martin's. Giant is a subsidiary of Netherlands-based Royal Ahold...
and Stop & Shop
Stop & Shop
The Stop & Shop Supermarket Company is a chain of supermarkets located mostly in the northeastern United States. Its main rivals are Shaw's Star Market and Hannaford in New England, while ShopRite and the A&P family of supermarkets are its main competition in New York and New Jersey.- History :Stop...
.
On November 7, 2006, it was reported that Price Chopper may buy the chain. It had previously bought six former locations.
On May 25, 2007, well-known grocery industry consultant Burt P. Flickinger III announced that he is part of a group of investors interested in purchasing the Tops Markets chain. Flickinger's family co-financed the first 60 Tops Friendly Markets stores that opened, and stated that he hopes to restore the local focus that Tops was originally known for.
On June 1, 2007, it was reported that Tops Friendly Markets agreed to repurchase its Lancaster warehouse from C&S Wholesale Grocers, Inc. C&S will continue to operate and manage the warehouse. Max Henderson, Executive Vice President and General Manager of Tops Markets, stated that he hoped repurchasing the warehouse would make Tops more attractive to a potential buyer.
On October 11, 2007, Ahold announced the sale of Tops Friendly Markets, LLC to Morgan Stanley Private Equity in a transaction valued at $310 million. Morgan Stanley agreed to purchase 71 of the 72 stores in the chain. The Baytowne Plaza store in Penfield, New York
Penfield, New York
Penfield is a town in Monroe County, New York, United States. The population was 36,242 at the 2010 census.The town was incorporated in 1810 by the proprietor, Daniel Penfield, who purchased the town lands in 1795 and moved to the area in 1809. Penfield is a suburb of Rochester, New York...
, known to Tops associates as the "Webster store", was not part of the transaction. The owners of the Baytowne Plaza notified all of their tenants that they would not be allowed to renew their lease upon expiration, and Tops Markets closed the doors of their store to the public on October 27, 2007.
Morgan Stanley
At 12:01 am on December 2, 2007, Morgan StanleyMorgan Stanley
Morgan Stanley is a global financial services firm headquartered in New York City serving a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley also operates in 36 countries around the world, with over 600 offices and a workforce of over 60,000....
Private Equity became the new owner of Tops Markets. Ahold
Ahold
Ahold is a major international supermarket operator based in Amsterdam, Netherlands. Ahold is listed on Euronext Amsterdam and the Frankfurt Stock Exchange.-History:...
's subsidiary Giant Food of Carlisle provided operational and support services for up to one year after the sale. Max Henderson, Executive Vice President of Tops, resigned his position from the company, and Frank Curci, a former Tops Friendly Markets CEO, returned as CEO of the company.
Tops Friendly Markets plans to bring back approximately 100 corporate positions in marketing, merchandising and finance to Buffalo, NY. Recently, those positions have been run out of Carlisle, PA by Giant Food. Existing stores will resume upgrades and remodeling, and plans for new stores are in the works as well, including the addition of Tim Hortons
Tim Hortons
Tim Hortons Inc. is a Canadian fast casual restaurant known for its coffee and doughnuts. It is also Canada's largest fast food service with over 3000 stores nationwide. It was founded in 1964 in Hamilton, Ontario, by Canadian hockey player Tim Horton and Jim Charade, after an initial venture in...
full-service restaurant or a self-serve kiosk as well as Anchor Bar
Anchor Bar
Anchor Bar is a restaurant located in Buffalo, New York which was the birthplace of spicy chicken wings, known outside the Buffalo area as Buffalo wings. The restaurant was initially established in 1935. Teressa Bellissimo is credited with the creation of the dish when she deep-fried some wings and...
wings. A growth rate of more than 10% is expected over the next four to five years.
In 2009, it was announced that the chain would open a new store in Spencerport, NY. This is the first time since the Morgan Stanley acquisition that the chain has opened a new store. It opened on August 18, 2010.
Penn Traffic
Tops was confirmed as the high bidder of Penn TrafficPenn Traffic
The Penn Traffic Company was the parent company for 79 retail grocery supermarkets in the Northeastern United States, concentrating mostly in Central New York. Its headquarters were in Syracuse, New York. Penn Traffic formerly had supermarkets also in Pennsylvania, Vermont and New Hampshire...
and on January 25, 2010 a federal judge signed off on an agreement in US Bankruptcy Court for the sale of same. The purchase will stretch the company's footprint from Pennsylvania to New Hampshire. The Penn Traffic deal was for 79 stores, but Tops is closing four stores within two months, in addition to one in Ogdensburg, NY. In March 2010, it was announced that an additional five stores, including one in Ithaca, New York
Ithaca, New York
The city of Ithaca, is a city in upstate New York and the county seat of Tompkins County, as well as the largest community in the Ithaca-Tompkins County metropolitan area...
, would close. Five in Pennsylvania were sold to Giant Eagle
Giant Eagle
Giant Eagle, Inc., is a supermarket chain with stores in the U.S. states of Pennsylvania, Ohio, West Virginia, and Maryland. The company was founded in 1918 in Pittsburgh, Pennsylvania. Supermarket News ranked Giant Eagle No. 21 in the 2009 "Top 75 North American Food Retailers" based on 2008...
The Tops name will be placed on remaining stores within the next year. In August 2010, Tops was ordered by the Federal Trade Commission
Federal Trade Commission
The Federal Trade Commission is an independent agency of the United States government, established in 1914 by the Federal Trade Commission Act...
to sell seven stores it had acquired from Penn Traffic due to anticompetitive concerns.
Advertising and Logo
Its longtime adAdvertising
Advertising is a form of communication used to persuade an audience to take some action with respect to products, ideas, or services. Most commonly, the desired result is to drive consumer behavior with respect to a commercial offering, although political and ideological advertising is also common...
slogan
Slogan
A slogan is a memorable motto or phrase used in a political, commercial, religious and other context as a repetitive expression of an idea or purpose. The word slogan is derived from slogorn which was an Anglicisation of the Scottish Gaelic sluagh-ghairm . Slogans vary from the written and the...
(first used in the late 1980s) is "Tops Never Stops ... Saving You More!" The slogan, temporarily put on hiatus in 2001, was brought back and refreshed in 2006, as "Tops Never Stops ... Giving You More!". In 2010 the company again changed the slogan to "Your Neighborhood Store, with More". The company logo
Logo
A logo is a graphic mark or emblem commonly used by commercial enterprises, organizations and even individuals to aid and promote instant public recognition...
was originally a spinning top, and is still reflected in the diamond design used today.