Lidl to acquire Long Island-based grocer

Arlington-based Lidl US is acquiring Best Market, a chain of 27 grocery stores in New York and New Jersey.

Terms were not disclosed. Lidl said it expects the deal to close in the coming months.  

The acquisition allows Lidl to expand its presence in New Jersey, where it currently has two stores, and to enter the Long Island and New York City markets.

The deal follows a bumpy rollout for the German grocer in the United States, where its low prices have been met by competitors and slowed Lidl’s aggressive plans. Lidl said in June 2017 it would open 100 stores by the end of 2018, but has just 59 locations open or on the verge of opening this calendar year.

Lidl swapped out its U.S. CEO in May in response to the expansion problems.

Lidl will begin to transition the Best Market stores beginning next year, including remodeling and rebranding all Best Market stores under the Lidl flag. Employees with the Bethpage, New York-based grocer are guaranteed employment opportunities with Lidl…

Read the full story from the Washington Business Journal.