The Brookshire Grocery Company is reportedly working with JP Morgan & Chase to coordinate a sale worth upwards of $1 billion, including debt.
People familiar with the matter shared with Reuters that the chain is currently organizing an auction that has attracted large banners like Albertsons, which is looking to go public as early as this week.
The combination of Brookshire’s, Super 1 Foods, and FRESH by Brookshire brands form a chain of over 150 stores, which operate in Texas, Louisiana, and Arkansas.
Reuters sources asked not to be named as the deal remains confidential, however, the report states that the sale is in line with a trend towards consolidation in the U.S. supermarket sector.
Albertsons already has 54 Texas locations, acquired through its 2013 purchase of United Supermarkets. Will it continue to pursue further growth in the southern states with this latest opportunity?
Stay tuned to DeliMarket News as this story develops.