Under the agreement, B&R Stores will purchase the assets and inventory of the stores at 620 West State Street and 1607 South Locust Street.
Skagway President Bill Martin said it was just time to make the sale. Martin said the stores were doing well, but without more capital, the business was getting "tougher and tougher."
Martin said B&R is a "local Nebraska store" owned by people he's known for years. He said this is an opportunity to team up with a "stronger store."
Martin said a lot of people are on board with the sale.
According to B&R Stores president Pat Raybould, the building and property at the Five Points location will be purchased by Associated Wholesale Grocers, of Kansas City, Kan., which will construct a new building that will be leased to B&R Stores.
B&R Stores will open a Super Saver at that location, the company's second Grand Island location. The Skagway store at Five Points will 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,” Raybould said.
Raybould said the South Locust location will continue to operate as a Skagway store.
He also said the company plans to retain as many store-level employees as possible at both locations. Skagway employs approximately 247 people.
Raybould expects the deal to close in October.