Article: Morgan Stanley buys Tops Markets for $310M.(Business)

Royal Ahold NV, the Dutch food retailer that gets more than half its sales from the U.S., agreed to sell Tops Markets LLC to Morgan Stanley Private Equity for $310 million to focus on its Stop & Shop grocery chain.

Tops Markets has 76 stores in western and central New York and northwestern Pennsylvania, employing more than 10,000 people, the New York-based buyout firm said in a statement Thursday. The retailer, based in Amsterdam, will retain liability for most of the U.S. chain's lease obligations, Ahold said in a separate statement.

Ahold, the ...

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