Brookshire Bros. Acquires Polk Oil

Grocer, gasoline/c-store retailer will continue to operate as separate businesses

LUFKIN, Texas -- By the end of the month, grocery company Brookshire Brothers will acquire Polk Oil Co. Inc.

"For the past few months, leaders from Polk Oil and Brookshire Brothers have worked together diligently to plan for the integration of our two companies. We are now focused on implementing that plan and moving forward together to deliver exceptional service and products to our customers. On behalf of our employee owners, we welcome the employees of Polk Oil and Polk's Pick It Up Stores to the family," said Jerry Johnson, CEO of Brookshire Brothers.[image-nocss]

Brookshire Brothers and Polk Oil, both based in Lufkin, Texas, will continue in day-to-day operations as separate businesses. Carl Ray Polk Jr. will remain president of Polk Oil and maintain his current responsibilities after the completion of the transaction.

Polk Oil currently employs more than 360 people in East Texas. These employees will now become part of the Brookshire Brothers team of over 5,600 employee-owners.

"The Polk family is excited about the opportunity to see our company grow and continue to be part of the community where we began," Carl Ray Polk Jr., currently CEO of Polk Oil, said. "In the past, we have had opportunities to merge with other companies, but they did not share our vision and commitment to our employees and customers. I believe this opportunity will bring substantial growth while still allowing the Polk name to continue on."

Founded by H.C. and Hazel Polk in 1937 in Wells, Texas, Polk Oil currently operates 29 convenience stores and supplies 24 independent dealers across East Texas. Founded in 1921 by Austin and Tom Brookshire, Brookshire Brothers has more than 5,600 employee-owners operating more than 70 supermarkets throughout Texas and Louisiana.