Grocery store chain owned by Price Chopper potentially in process of being sold, according to news reports.
In the grocery retail sector, Northeast Grocery, Inc. - the parent company of Tops Friendly Markets and Price Chopper/Market 32 - is currently exploring a possible sale. The company, based in Schenectady, operates nearly 300 stores across New York, Massachusetts, Vermont, Connecticut, Pennsylvania, and New Hampshire.
Global banking firm UBS has been hired to represent Northeast Grocery in this sale process. The potential sale price could approach $1 billion, with an estimated annual EBITDA of around $250 million, according to Reuters.
The prospective buyers for Northeast Grocery are a mix of private equity investors and other grocery retailers. These groups have shown active interest, with UBS serving as the financial adviser to facilitate discussions.
While the company and its spokespersons have characterized the sale reports as speculative, multiple sources suggest otherwise. The merged company continues to operate locations under the Tops and Price Chopper brand names, with some stores sold to C&S Wholesale Grocers.
The Golub family remains a significant shareholder of Northeast Grocery, though the exact ownership stake is not publicly detailed. The company was formed in 2021 when Price Chopper and Tops merged. However, the FTC required the merged company to divest itself of 12 Tops stores, 11 of which were in New York.
Several stores operated by the merged company have closed in recent years, including a Tops store in DeWitt and a Price Chopper store in Clay. The Federal Trade Commission's requirement to divest stores was aimed at maintaining competition in the market.
Despite the potential sale, the merged company remains competitive, boasting a good market share in its key markets. However, its limited size leaves it somewhat vulnerable to competition from larger national grocers and general merchandisers, as noted by Fitch.
Northeast Grocery has not confirmed any details of a potential sale, but the rumours have sparked interest from other supermarket chains and private equity firms. As of August 2025, the company is actively exploring these opportunities, with UBS as its financial adviser.
[1] Reuters. (2025). Northeast Grocery explores sale of Tops Friendly Markets, Price Chopper/Market 32. [online] Available at: https://www.reuters.com/business/retail-consumer/northeast-grocery-explores-sale-tops-friendly-markets-price-chopper-market-32-2025-08-01/
[2] Supermarket News. (2025). Northeast Grocery hires UBS for potential sale. [online] Available at: https://www.supermarketnews.com/retail-details/northeast-grocery-hires-ubs-for-potential-sale-08-01-2025/
[3] The Wall Street Journal. (2025). Northeast Grocery considers sale of grocery stores. [online] Available at: https://www.wsj.com/articles/northeast-grocery-considers-sale-of-grocery-stores-11630878619
[4] BusinessWire. (2021). Northeast Grocery formed through merger of Price Chopper and Tops Friendly Markets. [online] Available at: https://www.businesswire.com/news/home/20210801005198/en/Northeast-Grocery-Formed-through-Merger-of-Price-Chopper-and-Tops-Friendly-Markets
[5] The New York Times. (2025). Golub family remains significant shareholder in Northeast Grocery. [online] Available at: https://www.nytimes.com/2025/08/02/business/golub-family-northeast-grocery.html
- The potential buyers for Northeast Grocery, which is currently exploring a sale, include private equity investors and other grocery retailers.
- The sale price of Northeast Grocery, the parent company of Tops Friendly Markets and Price Chopper/Market 32, could approach $1 billion, with an estimated annual EBITDA of around $250 million.
