WATERTOWN, N.Y. (WWTI) — Tops Markets stores in Watertown are set to close and become new grocery stores.
On November 8, Tops Market and Price Chopper/ Market 32 announced the completion of the merger between the two companies. This was following approval from the Federal Trade Commission.
Under the terms of the merge, each company will be managed locally and continue with its brand identities. However, the agreement requires Tops Market and Price Chopper/ Market 32 to divest from 11 stores in New York, which includes the two Tops Market locations in Watertown. These stores will be sold to C&S Wholesale Grocers.
According to the New York State Office of the Attorney General, as both companies have a large presence in the state, the merger would have eliminated a direct supermarket competitor in the regions where divestitures will occur.
This would leave a single supermarket in three cities and at most, one to two other supermarkets in the remaining cities. The OAG stated that by selling Tops stores in these cities to C&S, competition will be maintained in these areas.
The Tops stores in Watertown on Washington Street and at the Seaway Shopping Center will now be converted by C&S Wholesale Grocers into Grand Union supermarkets.
“This is another very exciting opportunity for C&S to further expand into the retail market,” C&S Wholesale Grocers Executive Chairman Rick Cohen said in a press release. “This is an important component of our growth and future success. The Grand Union stores will showcase C&S’s already successful retail strategies and be supported by our strong wholesale supply chain and programs to deliver solid retail performance.”
Additional Tops stores to be converted in Grand Union supermarkets include locations in Cooperstown, Cortland, Norwich, Owego, Peru, Rome, Saranac Lake, Sherrill, Warrensburg and Rutland, Vermont.
The agreement between C&S, Price Chopper/Market 32 and Tops Markets is set to close in the coming weeks. Grand openings of the stores are planned for mid-January through mid-February 2022.