Lidl announced today that it plans to purchase 27 Best Market supermarkets in New York and New Jersey for an undisclosed amount. Twenty four of the Best Market stores are located in Long Island. The deal is expected to close early next year, and all of the acquired stores will be converted to the Lidl banner.
Lidl currently operates 59 stores in Virginia, North Carolina, South Carolina, Georgia, Maryland, Delaware and New Jersey. In addition, stores are under construction in Pennsylvania and are expected to open in 2019.
Both companies said that all Best Market employees in New Jersey and New York will have guaranteed employment opportunities with Lidl, and will be offered positions with wages and benefits equal or better than what they currently have.
Best Market opened its first store in 1994 and has grown relatively quickly. The company has opened or acquired 11 stores since 2015.