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DALLAS - Fleming today announced that it has signed a definitive agreement to acquire seven Dallas-area Super1Foods stores. The stores are currently owned and operated by Brookshire Grocery Company of Tyler, Texas. The companies anticipate that the transaction, which is subject to customary closing conditions, will be final within the next 30 days.
Fleming plans to operate these stores under its Rainbow Foods banner, offering everyday low prices without loyalty cards, special clubs or membership fees. Fleming anticipates that these stores will add annualized revenues of approximately $150 million. Fleming's Garland and Lubbock divisions will supply grocery and perishables to the acquired stores. General merchandise will be supplied from Fleming's General Merchandise division in Dallas.
"We are very excited about building on what has already been accomplished with these successful stores," said Tom Dahlen, executive vice president and president, Retail and Marketing. "Rainbow stores offer terrific savings on the most popular national brands, high-quality meat, produce and store brand products. The commitment to exceptionally low prices throughout the store is the hallmark of a Rainbow store."