ARLINGTON, Va. — German Discount grocer Lidl and Best Market announced earlier this month an agreement in which Lidl will acquire 27 Best Market stores in New York and New Jersey, widening its reach into the U.S. market. 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 continue to expand its regional presence and enter a new market on Long Island in New York.
“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 U.S. “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 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. Best Market employs about 2,700 workers in New York and New Jersey. “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,” said Will Harwood, spokesman for Lidl US, which is based here.
“It’s a win-win for both of our teams. We’re very excited to introduce customers on Long Island and in the New York City area to the Lidl shopping experience,” Harwood said.
“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 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.”
Best Market’s 24 stores on Long Island include locations in Commack, Merrick and New Hyde Park. The chain recently has been undergoing its own expansion, having taken over a former King Kullen store in Syosset in April.
Lidl’s Best Market acquisition is expected to be finalized in a few weeks, Harwood said. The financial terms were not disclosed.
Lidl stores have been proven to drive down prices for shoppers in areas where it opens new stores. Earlier this year, a study from the University of North Carolina found that retailers in the immediate vicinity of Lidl stores dropped prices on individual products by as much as 55% on average in areas where Lidl operates.
Lidl has 10,500 stores in 29 countries. The chain opened its first U.S. stores in summer 2017 and has 59 stores from Augusta, Ga., to Union, N.J.