SCHENECTADY, N.Y. — Price Chopper/Market 32 and Tops Markets announced the closure of their previously announced merger earlier this month, after the deal was approved by the Federal Trade Commission.

The agreement calls for the two companies to be managed locally by their respective leaders and continue to be referred to by their established brand identities. But a new parent company, Northeast Grocery Inc., will own and oversee the two chains. As previously announced, Scott Grimmett, the current president and chief executive officer of Price Chopper/Market 32, will lead the new parent company. He will also serve on its board of directors, as will Frank Curci, former Tops Markets chairman and CEO.

The merged companies — with a combined footprint of nearly 300 stores — will be better positioned to leverage increased value for customers; advance shared opportunities for innovation; and fortify the depth of their expanded workforce, community and trade partnerships, thereby becoming stronger and more competitive, according to proponents of the merger.