In a joint statement Friday, Lidl US and Best Market announced the acquisition of Best Market stores in New York and New Jersey.
Those stores will be converted into Lidl grocery stores. Best Market currently operates 27 Best Market stores, including one in Riverhead. The purchase brings Lidl to a new market on Long Island.
The German company operates over 10,500 stores in 29 countries. It opened its headquarters in the US in Arlington County, Va., in June 2015.
Since expanding to the US, Lidl has opened more than 50 stores on the East Coast.
“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, in a statement. “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.”
According to their website, Best Market grew from a small fruit stand operated by Ben Raitses, father of the current owners. Headquartered in Bethpage, the Raitses family has operated the business since opening the first stores in 1994.
In a statement, Best Market co-owner Aviv Raitses said the deal is a win-win for employees and customers. “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,” he said. “Today is a great day for Long Island, our Best Market team and our valued customers.”
According to Lidl, all Best Market employees in New Jersey and New York will have guaranteed employment opportunities with the company during the transition and be offered competitive wages and benefits to what they currently earn.
Officials did not disclose terms of the agreement, which is expected to close in the coming months.
Lidl has plans to remodel all Best Market stores.
Photo caption: Best Market in Riverhead. (Tara Smith photo)