Brookshire Grocery Co. Announces Sale of Pharmacy Business to Walgreens
Brookshire Grocery Co. (“BGC”) today announced an agreement whereby Walgreens will acquire BGC’s 120 pharmacies in Texas, Louisiana and Arkansas, which includes pharmacy customer prescription files and related pharmacy inventory. The vast majority of these locations are being converted to Walgreens pharmacies that will operate inside of BGC’s stores.
“We are excited to take this next step with Walgreens to strengthen our pharmacies and further our commitment to our employee-partners and customers that make up our BGC family,” said Brad Brookshire, Chairman and CEO of Brookshire Grocery Co. “The pharmacy industry has become increasingly complex over the past few years, and it was important to us to find a business leader that has the capabilities to focus on providing exceptional pharmacy services and value to our customers.”
Eligible BGC pharmacy employees are being offered employment opportunities with Walgreens. In addition, pharmacy customers do not need to not take any action for their prescriptions to be transferred over. Customers’ prescriptions will transfer to Walgreens automatically. Customers will receive notification in the mail along with details about their prescriptions.
“Walgreens has a long history of serving communities throughout the U.S., and we look forward to providing BGC’s customers with greater access to a wide range of trusted pharmacy and healthcare services,” said Brad Ulrich, Vice President of Pharmacy and Retail Operations for Walgreens. “Our pharmacists are playing a critical role in healthcare today, and we truly value the importance of the pharmacist-patient relationship. As part of our commitment to ensuring a seamless transition, we’re excited to also be providing employment opportunities for BGC’s existing pharmacy staff.”
As part of the agreement, a select few pharmacy locations will close. Those patient files will transfer to either another in-store pharmacy at BGC’s or nearby Walgreens retail pharmacy. BGC and Walgreens are committed to finding employment opportunities for substantially all eligible pharmacy employee-partners in other BGC or Walgreens locations. Customers of these locations will be notified, and prescription files will transfer automatically in the coming weeks to nearby Walgreens or BGC in-store pharmacy locations.
The pharmacies in BGC’s Reasor’s stores in Oklahoma are not included in this transaction and will remain under BGC brand and ownership. BGC will continue to operate and invest in its retail grocery business in its more than 205 stores located across Texas, Louisiana, Arkansas and Oklahoma. Together with its dedicated employee-partners, BGC remains focused on its vision of being the premier regional grocery retailer in the markets it serves.
“My grandfather laid the foundation for our core values in 1928 which continue to be supported by our team providing excellent service, showing integrity and doing our best every day. With this next step, we will remain focused on creating and delivering exceptional value to our customers,” added Brookshire.
Sidley Austin, LLP acted as lead legal advisor for Walgreens, along with Weil, Gotshal & Manges, LLP. The Food Partners served as strategic and financial adviser and Greensfelder, Hemker & Gale, P.C. and Kilpatrick Townsend, and Haynes and Boone served as legal counsel to BGC.
Contributed by Morgan Jones. Photo on Google Pictures by Philip Litzler
