Tops Completes Decoupling

Tops Friendly Markets said it has completed its 16-month transition to local control. The chain, which was purchased by Morgan Stanley Private Equity from Ahold in December 2007, had been managing marketing, merchandising and information technology through a shared-services arrangement with Ahold since the sale.

WILLIAMSVILLE, N.Y. — Tops Friendly Markets here said it has completed its 16-month transition to local control.

The chain, which was purchased by Morgan Stanley Private Equity from Ahold in December 2007, had been managing marketing, merchandising and information technology through a shared-services arrangement with Ahold since the sale.

"We cannot stress enough the importance of being locally operated,” Frank Curci, chief executive officer of Tops, said in a statement. “We live here, we know our customers and the products they want and service they need.”

As part of the transition, Tops added more than 100 new employees at its headquarters, hired a new executive team, and developed its own information technology infrastructure.

Read More of Today's Headlines [3]