Weis Markets is using the acquisition of 38 Food Lion supermarkets to continue a portfolio and geographic expansion.
The Food Lions, to be converted to Weis supermarkets, operate in Maryland, Virginia and Delaware. Weis stated that it expects to complete the conversion process for the majority of the acquired stores in September and October. The stores are being sold in connection with the merger of Ahold and Delhaize, Food Lion’s parent company.
The purchase of the Food Lion stores is the second major acquisition Weis has made in 2016. In May, the company 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 203 stores in seven states: Pennsylvania, Maryland, Virginia, New York, New Jersey, Delaware and West Virginia.
“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 Jonathan Weis, Weis 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.”