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Corner Capital Adivsors Helps Texas Grocer Sell Off 2 Dozen Stores

With help from a Santa Barbara M&A advisory firm, a Texas grocery chain has agreed to sell more than two dozen of its stores.

Lufkin-based Brookshire Brothers announced last month that it is selling 26 of its Polk Pick-It-Up stores to Partners Investors C-stores Ltd. The company said it will keep its Polk Pick-It-Up locations in the East Texas communities of Central, Central Heights, Hudson and Wells.

“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, Brookshire Brothers’ president and CEO, said in the announcement.

The company utilized Santa Barbara-based Corner Capital Advisors LLC 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. “We relied on their services and expertise throughout the process.”

Corner Capital provides M&A and specialty advisory in the downstream energy industry, which includes convenience store chains.

Even with the sale of the 26 stores, the Brookshire Brothers footprint continues to expand. The employee-owned company opened new locations in Hamilton and Pilot Point, Texas, this summer, and is on track to open a Canyon Lake store in December. Future plans include a Grapeland store in 2016.

Founded in 1921, Brookshire Brothers’ assets include retail outlets incorporating grocery stores, convenience stores, and free-standing pharmacy, tobacco and petro locations in Louisiana and Texas. The company acquired Polk Oil Co. in 2007.

Corner Capital Advisors LLC provides M&A and specialty advisory to all constituencies in the downstream energy industry, including convenience store chains, fuel wholesalers and distributors, lubricant retailers and distributors, propane and heating oil distributors, and transportation companies.

Click here for more information about Corner Capital Advisors LLC.

— Andy Weber is the founder of Corner Capital Partners LLC.


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