Weis Markets Looks to Notable Growth With the Acquisition of 38 Food Lions
SUNBURY, PA - Weis Markets has announced the finalization of an agreement with Food Lion, LLC to purchase 38 supermarket locations in three states. The deal includes 4 Delaware, 21 Maryland, and 13 Virginia stores. The company plans to complete the purchase of these locations upon 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,” said Weis Markets Chairman, President, and CEO Jonathan Weis, according to a press release. “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.”
As we previously reported, the Food Lion stores were up for sale as Ahold and The Delhaize Group look to appease the FTC and obtain the go-ahead for a $28 billion merger.
Weis expects to complete the conversion in September and October of 2016. This will mark the second major Weis acquisition of 2016. Earlier this year the company announced plans to purchase five Mars Super Markets in Baltimore County, a deal expected to close later this summer. Combined, these acquisitions will increase the number of operating stores by more than 25 percent, and increase the footprint to seven states.
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