Jacobs wants federal government to act on Tops merger
Press Release, Congressman Chris Jacobs
HAMBURG – Congressman Chris Jacobs (NY-27) is raising the alarm about the quickly approaching deadline for the merger of Tops Friendly Markets and Price Chopper.
The merger, announced nearly a year ago, needs the approval of the Federal Trade Commission (FTC) to proceed and as of yet there has been “radio silence” from the FTC Board.
“The financing for this project will expire on November 8th,” said Jacobs. “If the FTC does not act before then this deal is dead and there is potential that many of our Tops Markets will be forced to close. In my congressional district alone, we have almost 30 Tops Markets, and in many of the rural communities I represent Tops is the only grocery option for more than an hour drive.”
Tops Markets is one of the largest private employers in Western New York and the largest grocery chain. Tops and Price Chopper have so far adhered to all the requests of the staff at the FTC, such as selling off approximately seven stores for anti-trust reasons.
“Whether it’s bureaucracy or the product of political animosity toward private businesses, the hold-up at the FTC needs to come to an end,” Jacobs said. “There are real communities, real jobs, and real people waiting for a decision that could have major impacts on their lives. I am calling on the FTC to end this month’s long stalemate and do its job – it is time to make a decision.”
In addition, Jacobs sent a letter to the FTC highlighting these concerns and calling the for the board to make an expeditious decision concerning the merger.