Discount retailer Lidl plans to purchase 27 Best Market stores in New York and New Jersey.
The deal is expected to close in the coming months, and the remodeling and conversion of the stores will begin next year, according to a news release.
“Best Market has played an enormously positive role in the area, and we look forward to working closely with Best Market employees to build on that success,” Lidl U.S. CEO Johannes Fieber said in the release. “We are excited to expand into many great communities on Long Island and across the New York City area and introduce more customers to our simple and efficient approach to grocery shopping, which will mean high quality and huge savings for more shoppers.”
Lidl’s U.S. presence currently includes 50-plus stores in seven states on the East Coast. Worldwide, the company operates more than 10,000 stores in 29 countries.
“Today is a great day for Long Island, our Best Market team and our valued customers in New Jersey and New York,” Best Market co-owner Aviv Raitses said in the release. “Partnering with Lidl on this deal offers our employees a secure future with a growing grocer and continues the great tradition we started more than 20 years ago. We are delighted to be part of such a win-win, and Best Market customers have something great to look forward to with Lidl.”