Lidl US to acquire Best Market
Multiple media outlets reported that the US arm of German discount grocer Lidl will acquire 27 Best Market supermarkets in a deal that extends its market reach into metro New York. Lidl didn’t disclose a timetable for the conversion of the Best Market stores but said it plans to begin the remodeling, reinvestment and rebannering process next year. Lidl US’s expansion into a major market area like New York stands to turn up the competitive pressure that hard discount grocery chains — including fast-growing rival Aldi. It's worth noting that Lidl is owned by the same company as Kaufland, which is ramping up its operations Down Under.