Thu November 14, 2013
Ownership Change At Tops Markets
Tops Markets is announcing an ownership change, although the management of the company is staying basically the same. The Buffalo based chain says that six of the company's top managers are buying out the stake in the company which is currently owned by Morgan Stanley Capital Partners. Morgan Stanley has owned Tops since 2007.
Tops spokesperson Katie McKenna says the investment by Morgan Stanley helped with the company's growth, but now they are ready for a new phase in their expansion.
"Right now, business as usual, we're not looking at any major changes , but this really sets us up for the long term growth of the company so we're very excited about this. "
Tops has about 20 stores in the Rochester area, and is currently in the process of finishing major renovations at its Brighton location, while also building new stores in Irondequoit and Henrietta.