SCHENECTADY, N.Y. — Price Chopper/Market 32 and Tops Markets have agreed to merge, creating a retail company with nearly 300 stores in the Northeast.

“This merger marks a major step forward and collectively elevates our ability to compete on every level,” Price Chopper/Market 32 president and chief executive officer Scott Grimmett says. “It leverages increased value for our customers; advances shared opportunities for innovation; fortifies the depth of our workforce, community and trade partnerships; and ultimately accelerates our capacity to deliver a distinctively modern and convenient shopping experience. Given the vital role that supermarkets and their workforces play in our communities, particularly this past year, I am excited to lead the parent company of these two historic grocery retailers.”

Grimmett will be CEO of the new parent company, which will oversee the operations of nearly 300 Price Chopper, Market 32, Market Bistro and Tops Markets stores. He will also serve on the company’s board. Tops Markets chairman and CEO Frank Curci will also have a seat on the new company’s board, and will serve as a consultant to assist in the transition. Blaine Bringhurst, Price Chopper/Market 32’s executive vice president of merchandising, marketing and store operations, will lead the Price Chopper/Market 32 business; John Persons, Tops Markets president and chief operating officer, will lead Tops.

The new company will be headquartered here in Schenectady. The Price Chopper/Market 32 and Tops Markets businesses will retain main offices in Schenectady and Williamsville and will continue to be managed locally by their respective leaders.