The joint companies' blueprint will be so large across upstate New York that the FTC and the state Attorney General's office are mandating that the company divest and sell 12 stores to ensure competition in those regions. “Now we can dedicate ourselves to bringing these two storied grocery chains together, leveraging best practices, developing new opportunities and finding efficiencies that will help us continue to deliver distinctive shopping experiences,” Scott Grimmett, the current Price Chopper/Market 32 president who will lead the new parent company, said in a statement.
The deal was signed off by the Federal Trade Commission on Monday.
PROCE CHOPPER FULL
The deal, first announced in February, brings together two of upstate New York's largest supermarket chains, with nearly 300 stores and about 30,000 full and part-time workers. The two companies will still be managed locally by their respective leaders and continue with their current store names, but will be owned by a new parent company, Northeast Grocery, Inc. Schenectady-based Price Chopper/Market 32 and Buffalo-based Tops Markets late last year became business lines of Northeast Grocery Inc., a parent company created by the merger of the two supermarket chains.ALBANY - Price Chopper/Market 32 and Tops Markets received approval late Monday for their merger, and 12 stores will be sold as part of an agreement with state and federal officials to ensure competition in some small markets. The company does, however, operate a number of small supermarkets that remain viable because of their location, proximity to competition, or other factors. There are no others and there are no plans to build another like it. The Limited Chopper was a unique experiment, the company said Wednesday. Ultimately, after reviewing Price Chopper Limited’s current and future viability, we’ve chosen not to renew our lease.” “When we upgraded the Price Chopper SuperCenter to a Market 32 in November of 2019, the much larger store’s expanded offerings attracted even more of the little store’s traffic. With a 70,000 square foot Price Chopper SuperCenter around the corner on Route 50, that downtown location, with its limited parking, has served as more of a convenience store for fill-in grocery shopping trips. In a news release Wednesday, company spokeswoman Mona Golub said, “In response to the increased residential development and advocacy for a more sustainable and walkable downtown, we signed a 10-year lease in 2012 to operate a limited variety market beneath the Market Center Apartments. Developer Sonny Bonacio said at the time the format - a market on the ground floor of a luxury apartment building - was unique north of the New York metropolitan area.īut parkability apparently trumped walkability in a region where so many people own cars. Then-CEO Neil Golub said in 2011 that it was an unusual project for his company, whose new stores were typically at least 40,000 square feet. The Price Chopper Limited was the company’s response. The Price Chopper Limited is only 19,000 square feet, one-third the size of a typical newer Chopper and one-fifth the size of the chain’s largest stores.Īfter the company began discussing closure of a 23,000-square-foot, circa-1957 Chopper on Railroad Place, residents said they were worried there would be no affordable option for basic groceries within walking distance of the city’s core neighborhoods. It would not elaborate on the status of any negotiations, but said an announcement will be made soon about a new tenant. West Side Management of Saratoga, which manages Market Center for owner Bonacio Construction, said Wednesday it has received many inquiries about the space. All 35 employees have been offered comparable jobs at other stores. With its 10-year lease in the Saratoga Market Center building expiring, the company decided to shutter the store at 6 p.m. The Schenectady-based company said Wednesday that the Price Chopper Limited at 55 Railroad Place had lost business to the much-larger supermarket only two-thirds of a mile away, on Route 50, after it was converted from a Price Chopper to a Market 32 in November 2019.
SARATOGA SPRINGS - The small Price Chopper market in the heart of downtown Saratoga Springs will close its doors in a month.
0 kommentar(er)
