Tops Friendly Markets has acquired five stores operated by franchisee Supermarket Management, Inc., including the South Transit Road, Lockport-based Tops market.
Also included in the deal are the Tops markets in Depew, South Buffalo and Buffalo’s West Side, as well as a Tops Xpress in Lancaster.
The acquired stores, previously run by one of Tops’ first-ever franchise partners, will continue to operate as Tops markets and all 585 employees will be retained, Tops spokesperson Kathy Sautter said on Monday. All store operations, including pharmacy services, will continue uninterrupted, she added.
“Adding SMI’s five locations will strengthen our corporate store network and enable us to serve more customers across Western New York,” said Tops Markets President Ron Ferri. “Importantly, because we have worked so closely with SMI over the years, we are in a great position to provide a seamless transition for our associates and customers, who will enjoy a consistent experience with all stores remaining open and serving them as Tops Markets.”
Supermarket Management, Inc., a family-owned company led by SMI President Philip Perna, has been a franchisee of Tops Friendly Markets for more than 60 years. In the early 1950s, the late Joseph Perna and Frank Perna began their grocery industry careers, and became affiliated with Tops in 1963 when they opened one of the first franchised Tops locations in Lockport.
“It certainly won’t be easy for us to leave a business that has meant so much to our family but we are proud of our efforts to serve the communities our stores are located in and thankful for our wonderful associates and loyal customers who have made our work so gratifying,” Perna said. “We are happy that our stores will remain part of the Tops family and confident that it will provide our customers and associates with the shopping and career experiences that they have relied on us to provide.”
Sautter said Tops is planning to invest more than $8 million in renovations at the Lockport, Depew and Niagara Street, Buffalo, markets, which will remain open while the work is done.
Following its deal with SMI, Tops’ last franchisee-owned location is the Lewiston Tops market, Sautter noted.