Is Northeast Grocery Exploring a Sale?

Grocer responds to report of rumored talks with investment bank

8/5/2025

Northeast Grocery, Inc. has a combined footprint of more than 300 Market 32, Price Chopper and Tops Friendly Markets locations.

Northeast Grocery has a combined footprint of nearly 300 stores under the Tops Friendly Markets, Market 32 and Price Chopper banners.

A report is circulating that Northeast Grocery, Inc. (NGI) is looking into a possible sale. According to a Reuters story published on Aug. 4, the parent company of the Tops Friendly Markets, Price Chopper and Market 32 banners has been floating the idea with the UBS investment bank and an acquisition is allegedly garnering attention from potential buyers.

The report was based on anonymous interviews with three sources. They told the news service that a deal could be worth more than $1 billion.

NGI responded to the rumors in a statement to Progressive Grocer. “In building on the strength of our 2021 merger, Northeast Grocery, Inc. remains focused on offering quality products at a strong value and providing exceptional customer service across its six-state footprint. We continually explore opportunities to grow our business in a variety of ways, including but not limited to mergers, acquisitions or otherwise. We are aware of the Reuters report, which while speculative, reflects our reputation as an industry leader in the Northeast,” a spokesperson told PG.

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According to Progressive Grocer’s 92nd Annual Report, NGI posted a fiscal year-end revenue of $8.9 billion, up from $8.4 billion the previous year. The organization was formed in 2021, when Tops Friendly Markets and Price Chopper/Market 32 merged. Price Chopper/Market 32 was founded more than 90 years ago and operates 130 stores in six states across the Northeast. Started in Niagara Falls, N.Y., in 1962, Tops Friendly Markets is now based in Williamsville, N.Y., and runs over 150 stores in New York, Pennsylvania and Vermont, including one franchisee location.

Headquartered in Schenectady, N.Y., NGI is No. 46 on The PG 100, Progressive Grocer’s 2025 list of the top food and consumables retailers in North America.