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Tyler, Texas-based Brookshire Grocery Co. (BGC) is said to be exploring a sale with investment banker JPMorgan Chase & Co., according to media reports.
BGC – which currently operates more than 150 stores under its namesake, Super 1 Foods and Fresh by Brookshire’s banners in its home state, Arkansas and Louisiana – could fetch as much as $1 billion, including debt, per Reuters, which also cited Albertsons as a potential suitor.
The company declined Progressive Grocer's request for comment about the reports.
Brookshire's also owns three distribution centers, a dairy, and a private label manufacturing facility. The regional food retailer's stores, the majority of which feature in-store pharmacies, average about 40,000 square feet, while its warehouse format Super 1 Foods format averages 80,000 square feet.
The non-union BGC has annual earnings of around $150 million.