LUFKIN, Texas — Brookshire Brothers here is expected this week to complete the acquisition of Polk Oil, a 29-store convenience chain, also based here.
Terms of acquisition were not disclosed. Both companies are privately owned — in Brookshire Brothers' case, the chain's 5,600 employees have an ownership stake.
Brookshire Brothers, which operates 70 supermarkets in East Texas, and Polk Oil will continue to operate independently, the companies said. Carl Ray Polk Jr. will remain president of Polk Oil, which also supplies 24 independent fuel dealers.
“Both companies were started by local families and prospered with a great deal of hard work and determination — always with a focus on their customers,” Brookshire Brothers said in a prepared statement. “We look forward to carrying out this tradition of unparalleled customer service, community involvement and family values that has been the cornerstone of both of these companies for over 70 years.”