Ocean State Job Lot is acquiring 15 former Big Lots stores in the Northeast, including the Auburn location at 730 Center St.
The Rhode Island-based discounter operates eight stores in Maine and a total of 159 stores in the Northeast.
It expects to hire 70 additional employees at each of the new locations. Newly acquired locations will open by mid-summer.
Most of the former Big Lots stores range from 27,000 square feet to 43,000 square feet. It has done similar conversions of Christmas Tree Shops and Toys R Us stores. Last year, it took over a former Christmas Tree Shops location in Augusta.
“Expanding into new markets has long been part of our strategic plan, but like everything else we do, it needs to be done with value in mind,” said Marc Perlman, principal owner and CEO of Ocean State Job Lot, which is based in North Kingston, R.I., and founded in 1977.
In addition to the acquisitions, Ocean State Job Lot plans to open five to seven new stores this year, including expansions into Maryland and Delaware.
The stores carry a range of closeout merchandise, household goods, apparel, pet supplies, seasonal products and packaged foods. The company said its annual sales exceed $850 million and it has a workforce of 5,600 people.
In addition to the Auburn site, the Big Lots locations that are part of the deal are in Somers Point, Barnegat and Cape May, N.J.; Chester, Easton and Elkton, Md.; Dover and Seaford, Del.; Harrisburg and Trexlertown, Pa.; Dansville and Liverpool, N.Y.; Webster, Mass.; and Morrisville, Vt.