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Target to open another 61 stores nationwide

BY Allison Cerra

MINNEAPOLIS Target announced that it will be opening an additional 61 Target stores, the company said Friday.

The stores, which will all open Oct. 14, will open in 22 different states. The majority of the stores are making their debut in Arizona, California, Ohio and Texas.

In addition to offering the latest in trend-right merchandise, Target also brings a 44-year tradition of community involvement. The retail chain commits itself to local communities donating more than $3 million each week to area nonprofit organizations, becoming involved in local volunteerism efforts through Target Volunteers, and orchestrating other special projects that help meet area social service, arts and education needs.

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Tops Markets acquired by Morgan Stanley for $310 million

BY DSN STAFF

NEW YORK Morgan Stanley Private Equity has acquired regional supermarket chain Tops Markets from Ahold for $310 million. Tops operates 71 stores under the Tops Markets and Martin’s Super Food Stores banners and five franchise supermarket grocery stores in the Northeast.

The acquisition, which includes 61 in-store pharmacies, is expected to close by the end of this year.

“Tops is a well-regarded grocer with attractive long-term performance, strong employee relationships and a loyal customer base,” said Gary Matthews, managing director and operating partner of Morgan Stanley Private Equity. “We are excited to continue Tops’ tradition of outstanding service to customers and to maintain its position as a leading supermarket in the region.”

Morgan Stanley is expected to continue operations at the stores, but corporate functions will be relocated to Buffalo, N.Y. Frank Curci, former chief executive officer of Tops, is expected to serve on the board of directors and lead the transition in the coming months.

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Walgreens promotes vp specialty pharmacy, controller

BY DSN STAFF

DEERFIELD, Ill. Walgreens announced today the promotions of Stanley Blaylock and Mia Scholz from divisional to corporate vice presidents.

Blaylock is the vice president of specialty pharmacy for Walgreens Health Services, the managed care division of Walgreens that includes Option Care. Blaylock joined Walgreens in 2006 when the company acquired Medmark Specialty Pharmacy Solutions, which Blaylock co-founded.

Scholz was promoted to corporate vice president of accounting and controller. She joined Walgreens in 1999 after working for Arthur Anderson.

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