Solomon Partners Advising Best Market on Sale to Lidl US
On November 16, 2018, Best Market and Lidl US announced an agreement in which Lidl US will acquire Best Market, a leading family-owned grocer which operates 27 stores in the New York City area, mainly on Long Island. The Company was founded in 1989, when Ben Raitses and his sons Aviv and Eran opened their first fruit & vegetable stand.
The transaction is the first US acquisition by global discount supermarket chain, Lidl, which operates about 10,500 stores in 29 countries. Lidl first established its U.S. headquarters in Arlington County, Virginia, in June 2015, and today operates over 50 stores across seven East coast states.
Solomon Partners is serving as financial advisor to Best Market on the transaction, which is expected to close in the next few weeks.