Tyler, Texas-based Brookshire Grocery Co. has reached an agreement for Walgreens to acquire its 120 pharmacies in Texas, Louisiana and Arkansas, which includes pharmacy customer prescription files and related pharmacy inventory.
The majority of these locations will be converted to Walgreens pharmacies that operate inside of Brookshire Grocery Co.’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,” Brad Brookshire, chairman and CEO, in a statement.
“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 Brookshire Grocery Co. 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 automatically to Walgreens. They 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, VP 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 pharmacy staff.”
Per the agreement, a select few pharmacy locations will close. Those patient files will transfer to another in-store pharmacy at Brookshire Grocery Co. or to a nearby Walgreens.
The pharmacies in Brookshire Grocery Co.’s Reasor’s stores in Oklahoma are not included in this transaction and will remain under its brand and ownership.
Brookshire Grocery Co. will continue to operate and invest in its retail grocery business in its more than 205 stores located across Texas, Louisiana, Arkansas and Oklahoma.
“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,” Brookshire said.
“With this next step, we will remain focused on creating and delivering exceptional value to our customers.”
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 Brookshire Grocery Co.
The company shared in a statement online that “Walgreens’ 170 years of operational excellence along with its national scale, expertise and resources will ensure customers’ needs are well-served into the future…We look forward to continuing to serve communities through our retail grocery stores.”
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