Tops Friendly Markets To Sell Five Recently Acquired Stores To Giant Eagle

WILLIAMSVILLE, N.Y. -Tops Friendly Markets, a leading full-service grocery retailer in Western New York, Central New York, including Rochester, and Northwestern Pennsylvania, announced that it has entered into an agreement to sell five recently-acquired stores to Giant Eagle of Pittsburgh, PA.  These stores were part of the January 29, 2010 bankruptcy court-approved acquisition of a majority of Penn Traffic's assets.

"As part of our initial evaluation of all Penn Traffic locations, it was determined these stores were on the outer edge of our geographic footprint and would best be served by another retailer with more familiarity with those markets," said Frank Curci, Tops' president and CEO.

The five stores are located in central and western Pennsylvania.  They include four BiLo stores in Johnstown, DuBois, Brookville, and St. Marys, and one Quality Markets store in Titusville. 

The transaction is expected to be complete with in approximately 35 - 40 days. Terms of the sale were not disclosed.