US regional retailer Tops Friendly Markets is to buy a clutch of stores from GU Markets in the north-east of the country.
Tops has agreed to acquire 21 supermarkets in the states of New York and Vermont from GU Markets, an affiliate of wholesaler C&S Wholesale Grocers.
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Twenty of the outlets will be operated under their current Grand Union banner; the other store will continue to have the Bryant’s banner.
The deal will expand Tops’ presence in northern and eastern New York and in northern Vermont.
C&S chief administrative officer Michael Newbold said the deal made “excellent strategic sense” for both companies.
“It allows Tops to strengthen its retail network, while C&S will continue to focus on its core business of providing innovative supply and logistics solutions to its wholesale customers,” Newbold said.
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