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Encyclopedia > Tops Markets, LLC
Tops Markets, LLC
Tops
Type Public
Founded 1962
Location Williamsville, NY
Key people Tony Schiano, CEO
Max Henderson, Executive Vice President and General Manager
Industry Retail (Grocery)
Employees 16,000 (2006)
Parent Ahold
Website www.topsmarkets.com

Tops Markets, LLC, usually referred to as just Tops, is an American supermarket chain based in Williamsville, New York, with stores in the western and central regions of that state, northwestern Pennsylvania and northeastern Ohio (the latter having once been Finast). It is a subsidiary of the Dutch corporation Ahold. Image File history File links Tops_Logo. ... 1962 (MCMLXII) was a common year starting on Monday (the link is to a full 1962 calendar). ... Williamsville is a village located in Erie County, New York in the USA. As of the 2000 census, the village had a total population of 5,573. ... Supermarket produce section A supermarket is a store that sells a wide variety of goods including food and alcohol, medicine, clothes, and other household products that are consumed regularly. ... Employment is a contract between two parties, one being the employer and the other being the employee. ... 2006 (MMVI) is a common year starting on Sunday of the Gregorian calendar. ... A holding company is a company that owns enough voting stock in another firm to control management and operations by influencing or electing its board of directors. ... Ahold, (in full Koninklijke Ahold N.V., Royal Ahold N.V.), (Euronext: AH, FWB: AHO, NYSE: AHO) based in Amsterdam, the Netherlands is one of the worlds largest supermarket operators and one of the worlds largest foodservice and retail companies. ... Website - Wikipedia, the free encyclopedia /**/ @import /skins-1. ... Exterior appearance of typical American supermarket (a Safeway) A supermarket or grocery store is a store that sells a wide variety of food. ... Williamsville is a village located in Erie County, New York in the USA. As of the 2000 census, the village had a total population of 5,573. ... Official language(s) None, English de facto Capital Albany Largest city New York City Area  Ranked 27th  - Total 54,520 sq mi (141,205 km²)  - Width 285 miles (455 km)  - Length 330 miles (530 km)  - % water 13. ... Western New York refers to the westernmost counties of New York State, roughly the area included in the Holland Purchase. ... Central New York is a term used to describe the central region of Upstate New York, roughly including the following counties and cities: The region has a population of about 1,112,646. ... Official language(s) None Capital Harrisburg Largest city Philadelphia Area  Ranked 33rd  - Total 46,055 sq mi (119,283 km²)  - Width 160 miles (255 km)  - Length 280 miles (455 km)  - % water 2. ... Official language(s) None Capital Columbus Largest city Columbus Largest metro area Cleveland Area  Ranked 34th  - Total 44,825 sq mi (116,096 km²)  - Width 220 miles (355 km)  - Length 220 miles (355 km)  - % water 8. ... Finast was a retail supermarket brand in the northeastern United States until being absorbed by Edwards and its Dutch parent Royal Ahold in the mid-1990s. ... In business, a subsidiary is a company controlled by another company or corporation. ... A corporation is a legal person which, while being composed of natural persons, exists completely separately from them. ... Ahold, (in full Koninklijke Ahold N.V., Royal Ahold N.V.), (Euronext: AH, FWB: AHO, NYSE: AHO) based in Amsterdam, the Netherlands is one of the worlds largest supermarket operators and one of the worlds largest foodservice and retail companies. ...

Contents


History

Early years

Tops was founded by Armand Castellani, who was born in 1917 in a village outside of Rome, Italy. His family came to the United States in 1920, and eventually settled in Niagara Falls, where his father, Ferrante, opened a small neighborhood grocery store. This article is about the capital of Italy. ... Niagara Falls, New York, Rainbow Bridge and the American Falls from Skylon Tower in Niagara Falls, Ontario. ... A shop that sells food, either a Supermarket or a much smaller place. ...


Following his mother's death in 1933, Castellani left school to help manage the store. He continued to do so until joining the Army in 1941. He attained the rank of captain after five years' service. To meet Wikipedias quality standards, this article or section may require cleanup. ... Captain is both a nautical term and a rank in various uniformed organizations. ...


After World War II, Castellani returned to the family business. In 1951, he set out on his own and opened the Great Bear Market in Niagara Falls. Shortly thereafter, he partnered with Thomas Buscaglia, a grocery equipment salesman, to form the T.A. Buscaglia Equipment Co. Throughout the 1950s, Castellani and Buscaglia worked together, entering into a cooperative agreement with other small stores to build the foundation of what was to become the Tops Friendly Markets chain. Combatants Allies: Poland, United Kingdom, Soviet Union, France/Free France, United States, China, Canada, India, Australia, New Zealand, South Africa, Greece,Norway and others Axis Powers: Germany, Italy, Japan, Bulgaria, Finland, Romania, Hungary, Burma, Slovakia Casualties Military dead: 17 million Civilian dead: 33 million Total dead: 50 million Military dead... In the common law, a partnership is a type of business entity in which partners share with each other the profits or losses of the business undertaking in which they have all invested. ...


As the local economy boomed in the mid-to-late 1950s, the company's operations expanded to include building construction principally devoted to supermarkets. During this time, Savino Nanula, a meat department manager, became an integral part of the company's management team.


By 1958, they had set up headquarters in Buffalo, and in 1960 opened their first modern supermarket: a 25,000 square foot (2,250 m²) store on Portage Road in Niagara Falls. The company then changed its name to Niagara Frontier Services (NFS).


1960s: The chain is born

In 1962, franchise systems were established for supermarkets, under the Tops Friendly Markets name, and for smaller stores as B-Kwik. In February of that year, Tops signs went up on seven stores, and the chain was born. By the end of the year, NFS was comprised of 15 franchised stores throughout Western New York, employing a total of 300 associates. Throughout the 1960s, NFS implemented warehousing and centralized purchasing to allow the company to grow efficiently. To join as a partner, ally, or friend. ... Inside Green Logistics Co. ...


In 1967, Buscaglia died and Armand Castellani took over as chief executive officer. A chief executive officer (CEO), or chief executive, is the highest-ranking corporate officer or executive officer of a corporation, or agency. ...


The next year, NFS went public, trading on the American Stock Exchange. Subsequently, the company began construction on a perishable warehouse and acquired general merchandise distributor G&G Sales and Service. An initial public offering (IPO) is the first sale of a corporations common shares to public investors. ... The American Stock Exchange (AMEX) is an American stock exchange situated in New York. ... Distribution is one of the four aspects of marketing. ...


The following year, 1969, NFS entered the convenience store market by opening the first Wilson Farms Neighborhood Food store in Tonawanda. The same year, Tops was named Retailer of the Year by the Brand Names Foundation, an honor it would again earn in 1974. A convenience store is a small store or shop, generally accessible or local. ... The name Tonawanda as a location confuses even the people who live in other and even nearby Western New York communities. ...


1970s-80s: Growth and Change

The 1970s saw Tops, under the leadership of Castellani and Nanula, continue to grow in Western New York, and thrive where competitors struggled. Early in the decade, Tops began to build more company-owned stores. By the mid-70s, the company had expanded into the Rochester area, and over time, it became the only real competitor to Wegmans in the region. Also during this time, Tops opened its first Pennsylvania store in Bradford. In 1977, Tops installed electronic scanners, one of the first supermarkets to do so. Nickname: The Flour City, The Flower City, The Worlds Image Center Motto: Rochester: Made for Living Official website: www. ... Wegmans Food Markets, Inc. ... Bradford is a small city located in rural McKean County, Pennsylvania, in the United States. ... A typical barcode scanner. ...


In 1983, SB Investors, a private, New York-based investment group, purchased NFS. By this time, operations had grown to include 65 Tops stores, 50 Wilson Farms stores and 15 B-Kwik Food Stores, employing 7,000 associates.


The next year, Tops introduced Western New York shoppers to direct debit service, Instabank ATMs and the first CarryOut Café. It was also the year that Tops won the first of eight Golden Penguin Award from the National Frozen Food Association. link title Debit is an accounting and bookkeeping term that comes from the Latin word debere which means to owe. ... Smaller indoor ATMs dispense money inside convenience stores and other busy areas. ... Frozen food is food preserved under the process of freezing. ...


In 1985, Castellani was named Chairman of the Board and Nanula succeeded him as CEO. The following spring, SB Investors became known as Tops Markets, Inc., as the company went public for the second time, this time on NASDAQ. The following year, as Tops celebrated its 25th anniversary, a $196 million leveraged buyout of the company was engineered between a private investors group and Tops executives. NASDAQ (originally an acronym for National Association of Securities Dealers Automated Quotations ) is a U.S. electronic stock exchange. ... A leveraged buyout (or LBO, or highly-leveraged transaction (HLT), or bootstrap transaction) occurs when a financial sponsor gains control of a majority of a target companys equity through the use of borrowed money or debt. ...


Acquisition by Ahold

A new era began March 27, 1991 as Tops, which had grown to 145 total stores and 11,000 associates, was acquired by Ahold, a major international food retailer based in the Netherlands. The same year, the first Tops International Super Center opened in Amherst. At that time, the 112,000 square foot (10,080 m²) store was the largest in Western New York, and boasted the biggest in-store bakery in the entire U.S. March 27 is the 86th day of the year in the Gregorian Calendar (87th in leap years). ... Amherst, named the safest town in America, is located in Erie County, New York, directly northeast of the City of Buffalo. ... Bakery foods A baker is someone who bakes and sells bread, cakes and similar foods. ...


In the next few years several other locations were expanded into Tops International Stores, with more floor space and a product mix of many foods from different world cultures which up until then had not been widely available in the Buffalo area. With many Canadians at the time regularly crossing the border due to relaxed duties after the recently-concluded Canada-U.S. Free Trade Agreement and the Canadian dollar at 90% of the value to its American counterpart, the new stores were in the right place at the right time and did even better business than expected. Duty is a term loosely applied to any action (or course of action) which is regarded as morally incumbent, apart from personal likes and dislikes or any external compulsion. ... The Free Trade Agreement (FTA) was a trade agreement reached by Canada and the United States in October of 1987. ... ISO 4217 Code CAD User(s) Canada Inflation rate 2. ...


The 1990s were marked by a new growth in operations, including the 1996 merger with Finast in Northeast Ohio, expansion across New York, the construction of a new headquarters in Williamsville, NY and the opening of a 848,000 square foot (76,320 m²) distribution center in Lancaster. By 1998, Tops' market area stretched from Sandusky, Ohio, to Utica. In January 1999, the BonusCard, its customer loyalty program, debuted. In May, all 45 Northeast Ohio Finast stores adopted the Tops Friendly Markets banner. Lancaster is a town located in Erie County, New York, USA. As of the 2000 census, the town had a total population of 39,019. ... Muddy brown water fills Sandusky Bay, just south of Lake Erie in this astronaut photograph. ... Utica, New York is a city the State of New York and the county seat of Oneida County. ... 1999 is a common year starting on Friday Anno Domini (or the Current Era), and was designated the International Year of Older Persons by the United Nations. ...


Tops entered into the new millennium by acquiring the Sugarcreek Stores chain, adding 87 stores to its Wilson Farms division. That summer, Tops installed self-scanning checkouts at 11 stores in Ohio and in late August, the first Tops fueling station premiered in Akron. Flag Seal Nickname: The Rubber Capital of the World Location Location within the state of Ohio Government Country State County United States Ohio Summit Mayor Don Plusquellic (D) Geographical characteristics Area     City 161. ...


In 2001, Tops acquired 22 former Grand Union stores in the Adirondack region and in Central New York, further east than its market had traditionally been. They also introduced the Tops Xpress convenience store format. By the end of the year, the company celebrated another landmark with the opening of its 150th Tops store, located in Madison, Ohio. Madison is a village located in Lake County, Ohio, in the United States. ...


2000s: Scandal and recovery

However, this aggressive growth was fueled in part by deliberate understatements of Ahold's debt to the financial markets, and when the scandal broke in 2003, Tops along with other units of the company was forced to backtrack. By 2005 the convenience stores had been sold to WFI Acquisition Inc., which will continue to operate the stores under their former names, and Tops was also looking to sell the 31 stores it had tried to establish in the Adirondack region (so far Price Chopper has acquired six, Hannaford will acquire three, and twelve will return to the Grand Union division of C&S Wholesale Grocers). The divesture of these stores will allow for Tops to invest the capital raised from the sale in its Western New York stores and "redefine" its market area. In July 2006, Ahold announced its decision to exit the Northeast Ohio market, which consists of 46 locations. 2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar. ... 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ... Price Chopper is a chain of supermarkets, headquartered in Rotterdam, New York. ... Hannaford may refer to more than one thing. ... Once a large supermarket chain operating in the northeastern United States, Grand Union divided its operations among several competitors when it entered bankruptcy protection for the third(and final) time in 2000. ...


Martin's Super Food Stores

In 2004, Tops fully remodeled a store in Perinton, and rebranded it Martin's Super Food Store in an effort to revitalize the marketplace. The stores were designed in a colorful manner in order to attact both new and old customers. The format worked well for the company, which prompted them to remodel another location in the Buffalo suburb of Amherst into the Martin's Super Food Store format, and then later three other stores in Dunkirk, Derby, and Batavia. As of April 16, 2006, the Martin's Super Food Store in Amherst reverted back to a Tops Market due to customer feedback, and the company announced it would no longer pursue the Martin's brand in New York. 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... Perinton is a town located in Monroe County, New York. ... Housing subdivision near Union, Kentucky, a suburb of Cincinnati, Ohio. ... Amherst, named the safest town in America, is located in Erie County, New York, directly northeast of the City of Buffalo. ... Power plant along Lake Erie in Dunkirk Dunkirk is a city located in Chautauqua County, New York in the USA. As of the 2000 census, the city had a total population of 13,131. ... Batavia is a city in Genesee County, New York, USA. The population was 16,256 at the 2000 census. ... April 16 is the 106th day of the year in the Gregorian calendar (107th in leap years). ... 2006 (MMVI) is a common year starting on Sunday of the Gregorian calendar. ...


Advertising and Logo

Its longtime ad slogan (first used in the late 1980s) is "Tops Never Stops ... Saving You More!" The slogan, temporarily put on hiatus in 2001, was brought back and refreshed in 2006, as "Tops Never Stops ... Giving You More!". Its stores, painted white and decorated in a very airy and modernistic style, are an integral part of the culture of Western New York. The company logo was originally a spinning top, and is still reflected in the diamond design used today. Advertising, generally speaking, is the promotion of goods, services, companies and ideas, usually performed by an identified sponsor. ... Look up Slogan in Wiktionary, the free dictionary. ... Western New York refers to the westernmost counties of New York State, roughly the area included in the Holland Purchase. ... A logotype (from the Greek λογότυπο), commonly known as a logo, is the graphic element, symbol, and icon of a trademark or brand, which is set in a special typeface or arranged in a particular way. ...


External links

  • Company website

 
 

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