Sunbury, PA, 2016-Jul-17 — /EPR Retail News/ — Weis Markets, Inc. (NYSE: WMK), a Mid-Atlantic food retailer, today announced it 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,” said Weis Markets Chairman, President and CEO Jonathan Weis. “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. “We look forward to interviewing and hiring team members who share our commitment to offering an industry-leading combination of value, quality and customer service,” Weis said.
This is the Company’s second major acquisition in 2016. In May, it announced plans to purchase five Mars Super Markets in Baltimore County, Maryland, 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 percent and will operate 203 stores in seven states: Pennsylvania, Maryland, Virginia, New York, New Jersey, Delaware and West Virginia.
The following is a list of Food Lion store locations Weis Markets intends to purchase in the agreement with Food Lion, LLC:
|2565||17232 N Village Main Blvd||Lewes||DE|
|960||24832 John J Williams Hwy||Millsboro||DE|
|1321||36731 Old Mill Road||Millville||DE|
|488||19287 Miller Road||Rehoboth Beach||DE|
|1356||15789 Livingston Road||Accokeek||MD|
|784||45315 Alton Lane||California||MD|
|2515||20995 Point Lookout Road||Callaway||MD|
|2598||5896 Robert Oliver Place||Columbia||MD|
|1549||15300 Mcmullen Hwy SW||Cumberland||MD|
|1289||219 Marlboro Avenue||Easton||MD|
|1315||3261 Solomons Island Road||Edgewater||MD|
|1324||6375 Monroe Avenue||Eldersburg||MD|
|1529||6551 Waterloo Road||Elkridge||MD|
|1187||17600 Old National Sq Pike||Frostburg||MD|
|1345||16567 South Frederick Road||Gaithersburg||MD|
|1477||883 Russell Avenue||Gaithersburg||MD|
|1168||100 Drury Drive||La Plata||MD|
|1210||19 St. Mary’s Square||Lexington Park||MD|
|2606||210 H G Trueman Road||Lusby||MD|
|1387||12100 Central Avenue||Mitchellville||MD|
|2535||9251 Lakeside Boulevard||Owings Mills||MD|
|1526||750 Prince Frederick Blvd||Prince Frederick||MD|
|786||10 Village Center Road||Reisterstown||MD|
|1443||13300 H G Trueman Road||Solomons||MD|
|1535||5715 Crain Highway||Upper Marlboro||MD|
|250||505 Meadowbrook Shopping Ctr||Culpeper||VA|
|1567||540 Culpeper Town Mall||Culpeper||VA|
|1235||10601 Spotsylvania Avenue||Fredericksburg||VA|
|419||10611 Courthouse Road||Fredericksburg||VA|
|2583||10871 Tidewater Trail||Fredericksburg||VA|
|358||282 Deacon Road||Fredericksburg||VA|
|450||4153 Plank Road||Fredericksburg||VA|
|1043||515 Jefferson Davis Highway||Fredericksburg||VA|
|1579||7100 Salem Fields Boulevard||Fredericksburg||VA|
|1243||736 Warrenton Road||Fredericksburg||VA|
|1177||9801 Courthouse Road||Spotsylvania||VA|
|1166||2612 Jefferson Davis Highway||Stafford||VA|
|578||905 Garrisonville Road||Stafford||VA|
For more information on Weis Markets, visit WeisMarkets.com.
About Weis Markets
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, please visit: WeisMarkets.com or Facebook.com/WeisMarkets.
In addition to historical information, this news release may contain forward-looking statements, which are included pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. For example, risks and uncertainties can arise with changes in: general economic conditions, including their impact on capital expenditures; business conditions in the retail industry; the regulatory environment; rapidly changing technology and competitive factors, including increased competition with regional and national retailers; and price pressures. Readers are cautioned not to place undue reliance on forward-looking statements, which reflect management’s analysis only as of the date hereof. The Company undertakes no obligation to publicly revise or update these forward-looking statements to reflect events or circumstances that arise after the date hereof. Readers should carefully review the risk factors described in other documents the Company files periodically with the Securities and Exchange Commission.
Weis Markets, Inc.
1000 South Second Street
PO Box 471
Sunbury, Pennsylvania 17801
Source: Weis Markets, Inc.