LUFKIN, TX (KTRE) - Brookshire Brothers has entered into an agreement to acquire the assets of David's Supermarkets.
David's is a 25-store chain located in North Central Texas owned by the Waldrip family.
Jerry Johnson, president and chief executive officer of Brookshire Brothers said, "We feel like these family-owned stores align with our core value that we are a celebration of family and community. As a 100-percent employee-owned company, this transaction also presents opportunities for the employees of David's."
The due diligence phase is underway. During this process Brookshire Brothers is working closely with the Waldrips to ensure that this transition is as seamless as possible for the communities they serve.
Founded in 1921, Brookshire Brothers has 123 active and operating retail outlets including grocery stores, convenience stores, free standing pharmacy, tobacco, and petro locations with two new stores planned for 2014. For more information about Brookshire Brothers go to www.brookshirebrothers.com.