Food retailer Weis Markets has signed an agreement to acquire the assets of 38 Food Lion supermarket locations operating in the US states of Maryland, Virginia and Delaware.
By September and October, the company hopes to complete the conversion process for the majority of these stores.
Weis Markets also proposes to hire existing Food Lion store teams for the purchased locations.
Weis Markets chairman, president and CEO Jonathan Weis said: “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.
“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.”
Both purchases will increase Weis Markets’ number of operating stores by more than 25%. The company will operate 203 stores in seven states in total.
These states are Pennsylvania, Maryland, Virginia, New York, New Jersey, Delaware and West Virginia.
This is the company’s second major acquisition this year. In May, it announced to purchase five Mars Super Markets in Baltimore County, Maryland.
Weis Markets operates 162 stores in Pennsylvania, Maryland, New Jersey, New York and West Virginia.
Image: A Weis supermarket in Mifflintown, Pennsylvania, US. Photo: courtesy of Adam Gilson via Wikipedia.