WILLIAMSVILLE, N.Y. — Tops Markets will need to hire “upwards of 100 people” to restore its headquarters functions here, the newly appointed chief executive officer of the chain told SN last week.
Frank Curci, who had been CEO of Tops from 2000 to 2003, returned to that post last week after Morgan Stanley Private Equity completed its $310 million acquisition of the 71-store chain from Amsterdam-based Ahold.
“It's one of those stories where you can get to be a part of rebuilding the company, and lots of people want to be a part of it,” Curci told SN last week.
About five years ago Ahold began folding many of the functions of Tops under the auspices of its Giant of Carlisle, Pa., division, shrinking Tops' headquarters here to a fraction of its former size.
“We don't do things here that you really need to do to be the best local operator you can be, and that's merchandising and marketing,” Curci said. “We don't have an IT infrastructure anymore, we don't have a finance group, and building that up is going to take some time.”
He said it would take six months to a year to replace that functionality, which also includes all category management, at Tops. Until then, the chain has a service agreement with Giant-Carlisle to provide support for up to a year.
Distribution will continue to be handled through what Curci described as a “long-term contract” with C&S Wholesale Grocers, Keene, N.H.
Once full functionality has been restored to the chain, it intends to pursue growth through new-store development and remodels, although he said it was too early to say how much investment would be needed.
After Ahold whittled the chain down in recent years, Curci said he foresees no further closings. “The one thing I have been telling our associates is that this is the smallest we should ever be again,” he said.
Curci said Tops would seek to distinguish itself as “the preeminent local food store.”
The chain competes primarily with Wegmans Food Markets, Rochester, N.Y., and Wal-Mart Stores, Bentonville, Ark.
“Tops has a great history, and people in Buffalo recognize the brand,” Curci said. “We know that in order to be a successful business, you have to be a part of the community, and we intend to be a strong player in that field.”
