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B&R to buy Skagway stores
B&R Stores, Lincoln, Neb., said it has reached an agreement with Skag-Way Discount Department Stores to purchase both Skagway stores in Grand Island, Neb.
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B&R Stores, Lincoln, Neb., said it has reached an agreement with Skagway Discount Department Stores to purchase both Skagway stores in Grand Island, Neb. A purchase price was not disclosed.
B&R said it would continue to operate the South Locust Skagway location under the Skagway banner and would rebuild Skagway’s Five Points location and operate it under the Super Saver banner. Associated Wholesale Grocers, the supplier to both B&R and Skagway, is expected to purchase the building and property at Five Points, build the new store, and lease it to B&R. The Skagway at Five Points would remain open during construction of the Super Saver building.
“We’re excited about the opportunity to expand our presence in Grand Island with two additional locations. As a Nebraska-based company, B&R Stores is committed to the long-term growth and success of the city and surrounding area,” Pat Raybould, president of B&R Stores, said in a statement. “We also recognize the important role Skagway has played in the community for nearly 75 years, and we’ll continue to build our own tradition of service to the people of Grand Island.”
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Raybould said the company plans to retain as many store-level employees as possible at both locations. Skagway employs approximately 247 people. According to Raybould, some details of the plan must still be finalized, including an application by AWG to the Grand Island Community Redevelopment Authority for tax-increment financing on construction of the new Super Saver location.
The deal is expected to close in October. B&R operates 18 stores under four banners with estimated annual sales of $370 million. Skagway was founded in 1939 in Grand Island.
