ZAANDAM, Netherlands -- Ahold said it has successfully completed the sale of its chain of 198 Wilson Farms and Sugarcreek convenience stores in the United States, part of its Tops Markets LLC subsidiary. The transaction with WFI Acquisition, Inc., a corporation formed by Nanco Enterprises Inc. and Bruckmann, Rosser, Sherrill & Co Inc., was announced on April 28, 2005.
A local acquisition team, Wilson Farms Inc., Buffalo, N.Y., formally acquired the popular convenience store chain from Tops Markets LLC's parent company, Ahold USA, added a report by [image-nocss] Buffalo Business First. The deal closed on Monday afternoon.
The new Wilson Farms ownership team includes several former Tops officials including Paul Nanula, who was a Tops district manager for eight years, and Dan Shanahan, another one-time Tops executive, said the report. Nanula is Wilson Farms president and CEO, while Shanahan is its vice president and CFO. Savino Nanula, Tops' former chairman and CEO, is the chairman of Wilson Farms Inc.
It will be business as usual, Paul Nanula told the newspaper.
Nanula said his company will soon embark on a capital improvement plan for all 198 Wilson Farm outlets, with work ranging from new coats of paint to complete reconstruction of some stores.
Tops had owned Wilson Farms since 1969. Two years ago, Ahold decided to sell off the c-store chain as part of an overall strategy to focus solely on traditional supermarkets.
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