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The Brookshire Grocery Company has decided not to sell itself, despite the possibility that it would have fetched as much as $1 billion on the open market.

In a memo to company employees, company chairman Brad Brookshire wrote that he was "pleased to announce that the Board of Directors of the Company has decided this morning to discontinue the sale process of our company. The company is no longer for sale and we can now focus on the things that matter most - our customers and partners. I personally want to thank each of you for sticking with us during these past few months of difficult uncertainty.

"Entering this week of Thanksgiving, I am more than ever thankful for our company, our 14,000 employee partners and our loyal customers. I firmly believe Brookshire Grocery Company is a business with solid foundation and enormous potential."

Brookshire currently has more than 150 stores in Texas, Louisiana, and Arkansas.
KC's View:
I'm glad. The world is better for companies like Brookshire staying independent.