Dive Brief:
- Oklahoma grocer Reasor’s announced on Monday that Texas-based supermarket chain Brookshire Grocery Company (BGC) is acquiring its 17 stores. Financial terms of the deal were not disclosed.
- Reasor’s will continue to operate under its name and will become BGC's fifth banner. The transaction is expected to close in the first quarter of 2022.
- The acquisition sees BGC, which operates more than 180 stores across Texas, Louisiana and Arkansas, expand its footprint into Oklahoma.
Dive Insight:
Reasor’s will be the newest banner under BGC, which operates Brookshire’s, Super 1 Foods, Fresh by Brookshire’s and Spring Market.
“Reasor’s and BGC are working closely together to ensure a smooth transition for employees in these stores,” Reasor’s Chairman and CEO Jeff Reasor said in a statement. “We are excited that the employees will have opportunities to grow in their careers in these stores and throughout the company.”
Started in 1963, Reasor's was family-owned until it became employee-owned in 2007, per its website. The Oklahoma grocery chain has more than 2,000 employees for its 17 grocery locations and one convenience store in Northeastern Oklahoma.
BGC is a 93-year-old, family-owned grocery chain that employs more than 19,000 people. In 2018, the Texas chain bought eight Louisiana Winn-Dixie stores from Southeastern Grocers that reopened under Brookshire’s Super 1 Foods banner.
Both of the companies' governing boards have approved the transaction. The Food Partners served as strategic and financial adviser and Haynes and Boone served as legal counsel to BGC.
Monday's announcement marks the latest acquisition announcement between regional grocers. Last month, California chain Raley's announced it is acquiring Arizona grocery chain Bashas’ Family of Stores, creating a super-regional chain on the West Coast. Earlier this year, Price Chopper/Market 32 and Tops Markets agreed to merge into a single company with nearly 300 grocery stores across six Northeastern states.
