Best Market to be acquired by German company Lidl

Best Market to be acquired by German company Lidl
Best Market stores will be rebranded as Lidl stores next year, as part of an acquisition deal. (Photo from Best Market)

For Germany-based grocery company Lidl, Best Market may be their best bet for creating a footprint on Long Island.

Lidl is acquiring Best Market’s 27 stores, the group announced on Friday, as part of a larger push to expand its presence on the East Coast of the United States.

Best Market, a Bethpage-based company with locations in Great Neck, New Hyde Park and Syosset, will undergo a “step-by-step transition process” next year, according to a press release. This includes the “remodeling, reinvestment and reflagging of Best Market stores to converted Lidl stores.”

“Today is a great day for Long Island, our Best Market team, and our valued customers in New Jersey and New York,” Aviv Raitses, a co-owner of Best Market, said in a statement. “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.”

Lidl currently operates 10,500 stores in 29 countries. Among those stores are more than 50 within seven east coast states: Georgia, North Carolina, South Carolina, Virginia, New Jersey, Delaware and Maryland.

The company says all Best Market employees in New Jersey and New York will have “guaranteed employment opportunities with Lidl”‘ with “wages and benefits that are equal to or better than what they earn” now.

Acquisition terms 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,” Johannes Fieber, the CEO of Lidl US, said in a statement.

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