H.E. Butt Grocery Co. has acquired three Alberstons stores in College Station, Kerrville and New Braunfels.
Financial terms were not disclosed by either party.
H-E-B and Albertsons LLC Albertsons LLC will close on the sale of the three stores by mid-October. The Kerrville store will be converted to an H-E-B store, which will give the city of Kerrville its second H-E-B location. H-E-B will spend $4.5 million at the current Kerrville site to expand the store’s parking lot and retrofit the store. It should take around 30 days from the date of its closing to remodel the 49,000-square-foot store.
In New Braunfels and College Station, H-E-B recently opened brand new stores in July and September 2010. Therefore, these two Albersons will not be converted to H-E-B locations. H-E-B plans to use the real estate to attract new retailers to these communities.
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