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Reports: Tops Friendly Markets management buys chain from Morgan Stanley Capital Partners

BY Alaric DeArment

NEW YORK — The management team of Tops Friendly Markets has purchased the chain from the private equity firm that owned it, according to published reports.

The Rochester, N.Y., Democrat & Chronicle reported Friday that Tops CEO Frank Curci and five other executives were buying the chain from Morgan Stanley Capital Partners, which has owned the chain since 2007. Tops operates 155 stores in upstate New York, western Vermont and northern Pennsylvania under the Tops, Grand Union and Bryant’s banners.

Financial terms of the deal were not disclosed, and it is expected to close by the end of this year, but it will not affect the management of the stores, the Democrat & Chronicle reported. Spokeswoman Katie McKenna told the newspaper that Morgan Stanley had been "very supportive" of Tops over the last five years, during which the chain has doubled its number of stores and increased its geographic footprint.

 

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Target donates $100,000 to typhoon-relief efforts in the Philippines

BY Alaric DeArment

MINNEAPOLIS — Target Corp. is donating $100,000 to relief efforts in the Philippines following Typhoon Haiyan, the mass merchandise retailer said.

Target said it would make the donation to Save the Children, which is working in affected areas to provide support.

"We are deeply saddened by the devastation in the Philippines," Target president and CEO Gregg Steinhafel said. "We hope our donation to Save the Children will provide critical resources and relief to children and families in the Philippines as they recover from Typhoon Haiyan."

The Associated Press reported Friday that the death toll in the Philippines from the typhoon – the western Pacific equivalent of a hurricane – had risen to 3,621, far surpassing the 2,500 forecasted earlier this week by Philippine president Benigno Aquino III, while hundreds of thousands have been left homeless.

 

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New product allows for fast snack measuring

BY Ryan Chavis

PEPPERELL, Mass.  —  A new measuring tool will allow users to effortlessly measure portions of food to help with health needs that range from weight management for those trying to shed a few pounds to blood-sugar control for diabetics.

PortionMate features color-coded cylinders in various sizes that will help owners sort out foods like fruits, vegetables, cereal and grains. To use it, pick the desired cylinder, place it onto your plate and fill with your desired food. After lifting the cylinder, a perfectly measured portion of food is left behind.

PortionMate is BPA-free and is safe to use in the dishwasher. To purchase, visit Portionmate.com 

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