Business First of Buffalo reports that Tops Markets plans to invest $150 million in the renovation of existing stores, while it considers opening seven to 10 new stores.
CEO Frank Curci says that “store improvement projects will take place during the next five years,” and that “60 Tops stores have been identified for renovations ranging from minor spruce-ups to multimillion- dollar renovations … New stores, meanwhile, likely will be constructed in Buffalo, Rochester and some areas out to the middle of New York state.”
The decisions – which Curci says have been made because the recession actually is helping Tops’ supermarket business – come about a year after the 76-store chain was acquired by Morgan Stanley Private Equity from Ahold for $310 million.
CEO Frank Curci says that “store improvement projects will take place during the next five years,” and that “60 Tops stores have been identified for renovations ranging from minor spruce-ups to multimillion- dollar renovations … New stores, meanwhile, likely will be constructed in Buffalo, Rochester and some areas out to the middle of New York state.”
The decisions – which Curci says have been made because the recession actually is helping Tops’ supermarket business – come about a year after the 76-store chain was acquired by Morgan Stanley Private Equity from Ahold for $310 million.
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