B&R Stores on Monday said it has entered into an agreement to acquire Lovegrove’s Grocery, a store in Waverly, Neb., from its family owners and would rebrand the store behind its Russ’s Market banner.
“The Lovegrove’s Grocery Store has served Waverly shoppers for over 25 years, and its legacy as a family-owned business continues on,” Pat Raybould, president of Lincoln, Neb.-based B&R Stores, said in a statement. “We’re excited about the potential of the neighborhood store too, as it’s already a fundamentally strong business. We look forward to being a part of the Waverly community.”
Financial terms were not disclosed. The transaction is expected to close by the end of this month. The name will change to Russ’s Market Express, a new smaller Russ’s Market concept.
Source: Supermarket News