In a deal that has been in the works for more than one year, the upper echelon of Tops Markets LLC local corporate structure is in the process of completing a management buyout of the supermarket chain from its New York City-based investors.
The Tops team, led by Frank Curci, the chain's current president and CEO, has agreed to purchased the company from an investment group headed by Morgan Stanley Private Equity. The deal, which should be completed by year end, will shift all of Tops' decision making and corporate structure to its Amherst headquarters. It will also, almost instantly, make Tops one of the region's top, privately-held companies dwarfed only by Rich Products Corp. and Delaware North Cos.
Aside from who ultimately owns the 159-store chain, there will be little noticeable difference under the new ownership.
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