Sunbury, Pa. — Weis Markets, Inc., a Mid-Atlantic food retailer, has reached a definitive agreement with Food Lion, LLC, to purchase the assets of 38 Food Lion supermarket locations operating in the states of Maryland, Virginia and Delaware. The company plans to complete the purchase of these locations pending regulatory approval.
“This transaction provides us the opportunity to expand into markets that are contiguous to our current trade area, particularly in Maryland where we are adding 21 stores — essentially doubling our store count in a state where we have steadily grown in recent years,” says Jonathan Weis, Weis Markets’ chairman, president and CEO. “We’re also looking forward to expanding our operations into two adjacent states with the addition of 13 stores in Virginia and four in Delaware.”
Weis Markets expects to complete the conversion process for the majority of these stores in September and October and is interested in hiring current Food Lion store teams for the purchased locations.
This is the company’s second major acquisition in 2016. In May, it announced plans to purchase five Mars Super Markets in Baltimore County, Md., a deal expected to close later this summer. When both purchases are complete, Weis Markets will have increased the number of its operating stores by more than 25% and will operate 202 stores in seven states: Pennsylvania, Maryland, Virginia, New York, New Jersey, Delaware and West Virginia.
Founded in 1912, Weis Markets, Inc. is a Mid-Atlantic food retailer operating 162 stores in Pennsylvania, Maryland, New Jersey, New York and West Virginia. For more information, visit WeisMarkets.com.
SOURCE: Weis Markets, Inc.