Lidl US and Best Market have come to an agreement in which Lidl will acquire 27 Best Market stores in New York and New Jersey. The move allows Lidl to offer customers in the region a supermarket experience recently ranked among the top three in the U.S. by Food & Wine Magazine. The deal also allows Lidl to expand its regional presence and enter a new market in Long Island.
“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,” said Johannes Fieber, Chief Executive Officer of Lidl US. “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.”
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Lidl plans a step-by-step transition process that will begin next year and will involve the remodeling, reinvestment and reflagging of Best Market stores to converted Lidl stores. All Best Market employees in New Jersey and New York will have guaranteed employment opportunities with Lidl following the transition. Team members will be welcomed into positions with Lidl that offer wages and benefits that are equal to or better than what they earn with Best Market. The terms of the acquisition agreement are not disclosed, and it is expected to close over the coming months.