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Discount grocer Lidl is reinforcing its presence in the Northeast, with a plan to buy 27 Best Market stores in New York and New Jersey. The chain currently operates only three stores in the Northeast region, all of them in New Jersey.
"We are excited to expand into many great communities on Long Island and across the New York City area and [to] introduce more customers to our simple and efficient approach to grocery shopping, which will mean high quality and huge savings for more shoppers," said Johannes Fieber, CEO of Lidl US, in a prepared statement. Terms of the deal, which is expected to close sometime next year, were not disclosed.
The Germany-based chain will begin remodeling and reflagging the stores next year.
Lidl, which established its U.S. headquarters in 2015, in Arlington County, Va., operates roughly 50 stores in six other states along the East Coast besides New Jersey: Delaware, Georgia, Maryland, North Carolina, South Carolina and Virginia. Worldwide, the company operates about 10,500 stores across 29 countries.
The company had planned to have 100 U.S. stores open by this past summer but then slowed its pace of openings and put some markets on hold.
By Edmund Mander
Director, Editor-In-Chief/SCT
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