<p>Tops Friendly Markets has announced that it will be majority owned by its current management team by the end of 2013. </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>According to Katie McKenna, Tops' spokesperson, "The management team proposing this acquisition includes the six members of Tops’ Executive Management team: Frank Curci, President and CEO; Kevin Darrington, Chief Operating Officer; Rick Mills, Chief Financial Officer; John Persons, Senior Vice President of Operations; Jack Barrett, Senior Vice President of Human Resources; and Lynne Burgess, Senior Vice President General Counsel & Secretary." </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>Terms of the transaction have not been disclosed. Management is purchasing Tops' stock and will own all assets and liability. </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>McKenna also noted that Morgan Stanley Private Equity has been a "very supportive partner to the management over the past five years and with this time period proving to have been one of strong growth for Tops the company has doubled the number of stores, increased its geographic footprint and added new jobs in its markets." </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>"It’s business as usual for Tops. The Tops Management team will stay focused on achieving our vision for Tops. We will keep the well-being of our customers, communities and employees foremost in our mind. We believe that this WNY-based management structure is a very positive development for Tops and the communities we serve," McKenna states. </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>Upon completion of the transaction, Tops will be a fully WNY- owned and operated company. Tops management will stay with the business and remain a part of its continued growth and development. </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href=" http://www.topsmarkets.com/Departments/Investor_Relations" target="_new"> Tops Friendly Markets </a></p><hr class="legacyRuler"><hr class="invisible minimal-padding">
