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Brookshire Grocery Announces Termination of Potential $1 Billion Sale

Brookshire Grocery Announces Termination of Potential $1 Billion Sale


TYLER, TX
Tuesday, November 24th, 2015

The Brookshire Grocery Company delivered some good news to its workers this holiday week.

Brad Brookshire, Chairman of the Board, sent out a letter yesterday, notifying employees that the chain has decided that it will not pursue a sale, according to KLTV.

As we previously reported, news hit last month that Brookshire was working with JP Morgan & Chase to coordinate a sale worth upwards of $1 billion, including debt that had attracted large banners like Albertsons.

Photo Source: The Fourney Post

Now, according to KLTV, the chain has decided to change tactics, with no more intentions of putting itself on the market.

“I am pleased to announce that the Board of Directors of the Company has decided this morning to discontinue the sale process of our company,” Brookshire wrote in his letter to employees, according to the report. “The company is no longer for sale and we can now focus on the things that matter most - our customers and partners. I personally want to thank each of you for sticking with us during these past few months of difficult uncertainty.”

 

A photo posted by Brookshires (@brookshires_) on Feb 24, 2015 at 2:51pm PST

The Brookshire chains were founded in 1928 in its home of Tyler, Texas, having now grown to operating more than 150 stores in Texas, Louisiana, and Arkansas under the Brookshire's, Super 1 Foods, and FRESH by Brookshire brands.

Brookshire Grocery Company