Brookshire Brothers on Wednesday said it has completed a deal to sell 26 of its Polk Pick-It-Up convenience stores to Partners Investores C-stores. A purchase price was not disclosed.
Brookshire said it would retain four Polk Pick-It-Up locations, in Hudson, Central Heights, Central and Wells, Texas, which are near its headquarters in Lufkin, Texas. Brookshire acquired the stores as part of its acquisition of Polk Oil in 2007.
“The sale of these locations enables us to focus on our core business – providing an exceptional shopping experience for our customers in all of our formats, including the recently launched Brookshire Brothers Express banner,” Jerry Johnson, president and CEO of Brookshire Bros., said.
Brookshire Brothers utilized M&A advisor Corner Capital Advisors, for valuation and structured sale advisory. “Corner Capital’s knowledge of the industry and attention to our assets were critical to the success of the sale,” Johnson said.
Employee-owned Brookshire Bros. said it would continue its expansion, with new stores this summer in Hamilton and Pilot Point, Texas; a store scheduled for Canyon Lake, Texas, this December; and a Grapeland, Texas, site set to open next year.
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