Lidl US acquires 27 Best Market Stores
On Nov. 16, Lidl US and Best Market announced they had entered into an agreement in which Lidl would acquire 27 Best Market stores located in New York and New Jersey. The move will further Lidl’s expansion into a new regional market. Details of the agreement were not disclosed.
“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, CEO 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,” Fieber said.
Lidl revealed a step-by-step transition process to remodel, reinvest and reflag Best Market and convert them to Lidl stores that will begin in 2019. All Best Market employees in New Jersey and New York have been guaranteed employment opportunities with Lidl following the transition. Team members will be offered wages and benefits equal to or better than what they earn with Best Market. The agreement is expected to close in the coming months.
“Today is a great day for Long Island, our Best Market team, and our valued customers in New Jersey and New York,” said Aviv Raitses, co-owner of Best Market. “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 twenty 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,” Raitses said.