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Tops Markets buys six stores, expands into Massachusetts

Tops Markets has acquired six new stores, including its first in the state of Massachusetts.

The acquisition includes two Hannaford stores and four Stop & Shops stores, most of them in the Hudson Valley.

The two Hannaford stores are in LaGrangeville and Carmel, the four Stop & Shops are in Rhinebeck, New Paltz, Wappingers Falls and Gardner, Mass.

It brings the total number of Tops stores to 171, not including its five franchised stores. It also expands Tops’ territory into Massachusetts for the first time, and increases its footprint in northern and eastern New York.

Each of the stores will be rebranded under the Tops banner and undergo renovations to bring them in line with Tops’ current portfolio of stores.

The new stores’ 750 employees bring Tops’ total employee count to 16,000.

The sale is expected to close in the next few months.

The Williamsville-based supermarket chain made a deal with Stop & Shop and Hannaford to take over the stores. Stop & Shop is owned by Dutch grocery chain Koninklijke Ahold N.V. It merged with grocery conglomerate Delhaize Group in 2015, which owns Hannaford. Tops was itself owned by Ahold before being bought by private equity group Morgan Stanley in 2007. In 2013, Tops management acquired the company from Morgan Stanley in a highly leveraged buyout. Stop & Shop is based in Massachusetts; Hannaford is based in Maine.

email: schristmann@buffnews.com