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Article: Morgan Stanley Private Equity to Acquire Tops Markets.
- Article from:
- Business Wire
- Article date:
- October 11, 2007
CopyrightCOPYRIGHT 2007 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- Morgan Stanley Private Equity announced today that it will acquire Tops Markets, LLC (Tops) from Koninklijke Ahold, N.V. (Ahold) for $310 million. Tops operates under the banners of Tops Markets and Martin's Super Food Stores and is composed of 71 company-owned and five franchise supermarket grocery stores in Western New York, Mid-State New York, including Rochester, and Northwestern Pennsylvania. Tops employs more than 10,000 associates. The acquisition is expected to close before the end of 2007.
Throughout the transaction, Morgan Stanley Private Equity has worked closely with Frank Curci, former CEO of Tops from 2000 to 2003. It is expected that ...