Based in Syracuse, New York, P&C Foods was a leading regional food chain, operating primarily in Upstate New York.  P&C Foods operated retail food markets in New York and portions of New England, franchised Big M-branded supermarkets and provided wholesales services to independent grocers.  In 1986, P&C Foods completed an initial public offering (OTC: FOOD).  Freeman Spogli realized its investment in P&C Foods through a sale of the company to Penn Traffic Co. in 1988.