Court approves plan for Tops to acquire Penn Traffic assets
WILLIAMSVILLE, N.Y. The U.S. Bankruptcy Court has approved a plan by Tops Friendly Markets to acquire the assets of the Penn Traffic Co., Tops announced.
The Rochester, N.Y.-based chain plans to acquire the bankrupt Penn Traffic’s assets, including its 79 supermarkets, for $85 million by the end of the week.
“We are very pleased that the court has approved our comprehensive bid,” Tops president and CEO Frank Curci said. “We look forward to the upcoming closing and the opportunity to bring the Tops Friendly Markets shopping experience to our new neighbors and customers.”
Tops emerged earlier this month as the top bidder for Penn Traffic’s assets. Penn Traffic, based in Syracuse, N.Y., filed for bankruptcy protection in November after defaulting on its debts.
A&P Supermarkets debut in-store shopping guides
MONTVALE, N.J. It may be a new year, but a consumer’s budget still remains a No. 1 priority. So to help shoppers save money, A&P Supermarkets developed a unique in-store shopping guide that features in-store advertised specials, money-saving coupons and extra values.
Beginning this month, shoppers at A&P, Waldbaum’s, SuperFresh and Pathmark stores can pick up the new guides in-store and immediately take advantage of exclusive coupons and special deals on a variety of frozen foods, produce and grocery items, including A&P’s collection of Own Brand products, as well as popular national brands. In order to benefit from these special savings, shoppers must present their club card, along with the clipped coupons.
“Today, more than ever, shoppers are looking for more savings and A&P’s Family of Supermarkets is proud to offer a comprehensive portfolio of savings including our partnership with Coupons.com, our online digital coupons which link savings directly on our club cards and now our special good deals guide provides even more value for our loyal customers,” said Jennifer MacLeod, SVP marketing and communications. “This is another great way for our customers to save big, especially when combined with our already unbeatable prices and other dynamic money saving programs.”
Boyan named H-E-B president; additional executive changes announced
SAN ANTONIO A regional grocery chain announced its chief strategic officer and COO assumed the role of president.
H-E-B said that Craig Boyan, a 5-year veteran, was appointed to the position after company president Bob Loeffler announced his retirement, but would assume the role of chief administrative officer for two years, and will be responsible for distribution, information solutions, Mexico and central market at the corporate level, food safety and quality assurance, the grocer said.
“Craig, with his collaborative leadership style and keen insight into our customers’ needs, is well-suited to lead H-E-B in the new decade,” said Charles Butt, H-E-B chairman and CEO. “I’m confident that under his direction, our senior leadership team will ensure H-E-B’s continued growth.”
Another key leadership change was the appointment of Martin Otto to the role of chief merchant. Otto adds the title of chief merchant to his current one of CFO, upon assuming duties from Steve Harper, who will continue as a consultant. Otto joined H-E-B in 1991.
The company also highlighted strong leadership of other key executives. Members of the company’s senior leadership team leading H-E-B in the new decade include:
- Gavin Gallagher, Chief Information Officer
- Mike Graham, SVP supply chain and logistics
- Tina James, Senior VP human resources
- Judy Lindquist, general counsel
- Scott McClelland, president of Houston food / drug division stores
- Roxanne Orsak, EVP drug/GM and format development
- Lynette Padalecki, VP strategic planning and analysis
- Todd Piland, EVP real estate, facility alliance and services
- Randy Vaclavik, SVP fresh foods
- Suzanne Wade, president of H-E-B’s San Antonio Food/Drug division