October 25, 2014 12:54 PM ET

Food and Staples Retailing

Company Overview of Tops Markets, LLC

Company Overview

Tops Markets, LLC operates full-service supermarkets and five franchise supermarkets in New York, Pennsylvania, and Vermont. The company offers products in the areas of deli and carryout cafe, in-store bakery, meat, pharmacy, produce, seafood, and florist products. It also operates fueling stations in central New York. The company was founded in 1962 and is headquartered in Williamsville, New York. Tops Markets, LLC operates as a subsidiary of Tops Holding, LLC.

6363 Main Street

Williamsville, NY 14221-5855

United States

Founded in 1962

Phone:

716-635-5000

Fax:

716-633-0898

Key Executives for Tops Markets, LLC

Chief Executive Officer and President
Age: 62
Chief Financial Officer and Senior Vice President
Age: 57
Chief Operating Officer
Age: 46
Senior Vice President and General Counsel
Age: 64
Senior Vice President of Operations
Age: 47
Compensation as of Fiscal Year 2014.

Tops Markets, LLC Key Developments

Tops Markets LLC's Workers Approve Three-Year Union Contract

Tops Markets LLC and the United Food and Commercial Workers, District Union Local One, had their new contract agreement overwhelmingly approved by the union's membership late last week. The agreement covers 13,000 Tops employees in Upstate New York and northern Pennsylvania. Among the highlights of the new contract: Health care benefits will be provided 'were very reasonable co-payments' and Tops has agreed to increase funding for the UFCW members' pension fund obligations. Hourly wage increases for the next three years were included in the new contract and the UFCW Local One Scholarship Program will also continue during the length of the deal. UFCW District Union Local One members work primarily in retail grocery stores and meat processing with growing numbers employed in retail drug stores, agriculture and food processing, hospitals, nursing homes and school transportation.

Tops Markets, LLC Opens New Store at Pulteney Plaza in the Village of Riverside in Steuben County

Tops Markets, LLC announced the opening of a brand new store at Pulteney Plaza in the Village of Riverside in Steuben County. The $4.9 million store boasts the company’s new store design as well as a fuel station and employs 125 Tops associates. Tops began construction on the site in October 2013 and added 5,000 square feet to the existing space. Now complete, the 24,576 square-foot store proudly offers customers exterior improvements and a layout that is modern, efficient and easy to navigate with a true neighborhood feel. A new store front and exterior signage greet customers entering the plaza. Inside, the store boasts full-service deli, bakery, and seafood departments, a full-service meat department, where meat is cut fresh daily as well as produce, bulk, dairy and frozen foods department. The store is also offering a healthy, natural and organic section to meet the growing demands for those products. The store offers Tops’ Carry Out Café where customers can find delicious prepared foods including Tops new signature subs, pizza, an olive bar, fresh rotisserie and fried chicken and hot buffet. The Café also offers a seating area for customer convenience. The Riverside store also includes a six-pump fuel station with a walk-up kiosk, giving customers increased access to Tops’ GasPoints program. Shoppers who use their BonusPlus card when shopping at their neighborhood Tops Friendly Markets earn points on qualifying grocery and pharmacy purchases. For every 100 GasPoints shoppers earn, they receive 10 cents off a gallon of fuel. Customers can redeem these points by just scanning their BonusPlus at a Tops gas pump.

Tops Holding II Corporation Announces Results of Consent Solicitation by Tops Holding LLC, Tops Markets, LLC and Tops Markets II Corporation to Amend the Indenture Governing their 8.875% Senior Secured Notes Due 2017

Tops Holding II Corporation announced the results of the previously announced consent solicitation by Tops Holding LLC, Tops Markets, LLC and Tops Markets II Corporation to amend the indenture governing their 8.875% Senior Secured Notes due 2017. As of 5:00 p.m., New York City time, on November 20, 2013, which was the expiration date for the Consent Solicitation, the Issuers had received consents from holders of a majority of the outstanding Notes. Pursuant to the terms of the Consent Statement, the Issuers will make the Consent Payments immediately prior to the consummation of the Acquisition, which they expect will occur by December 16, 2013. The Supplemental Indenture will become operative after the Consent Payments have been made. The company also announced that the Issuers have terminated their previously announced offer to purchase the Notes in accordance with the terms of the Notice of Change of Control and Offer to Purchase dated November 14, 2013. As provided for in the Offer Statement, the Issuers have terminated the Offer due to the receipt of the requisite consents to effect the Proposed Amendment. The Acquisition remains subject to customary closing conditions and is expected to close in the fourth quarter of 2013. BofA Merrill Lynch acted as sole solicitation agent for the Consent Solicitation.

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