C&S Wholesale Grocers Announces Definitive Purchase Agreement With Tops Markets; Bob Palmer and Rick Cohen Share
KEENE, NH - Today, C&S Wholesale Grocers announced a pivotal new play to increase its retail sector penetration. The wholesaler disclosed that it entered into a definitive agreement to buy 12 Tops Markets stores, which became available following Tops' merger with Price Chopper/Market 32. Through this deal, C&S will convert the locations to Grand Union (GU) Supermarkets.
"The Grand Union stores will offer competitive prices on a wide variety of fresh foods and an extensive assortment of brand name groceries, as well as our signature private brands. Each store will contain localized assortments to meet their shoppers' needs," said Bob Palmer, Chief Executive Officer. "We are very excited to bring this iconic supermarket back to the communities it has fed for generations and continue our legacy of braggingly happy customers."
The wholesaler's new Grand Union stores in New York will be situated in Cooperstown, Cortland, Norwich, Owego, Peru, Rome, Saranac Lake, Sherrill, Warrensburg, two locations in Watertown, and in Rutland, Vermont, according to a press release.
This purchase agreement is set to close within the coming weeks, and the grand openings of the Grand Union locations are planned for mid-January through mid-February of 2022.
"With our recent announcement of the purchase of Piggly Wiggly® Midwest, this is another very exciting opportunity for C&S to further expand into the retail market,” said Rick Cohen, Executive Chairman. “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.”
GU Markets is an affiliate of C&S Wholesale Grocers and will operate these new stores. Through the deal, C&S will continue to recognize the union workforce at the stores.
Widening its footprint in the lucrative retail sector, what will be C&S Wholesale Grocers' next move? Keep a tab open for AndNowUKnow for answers.
