Brookshire's No Longer Exploring Sale

Brookshire Grocery Co. (BGC) is no longer exploring options to sell the company, the regional grocer said in a statement on Monday.

"[The] process in which [the company] has been engaged to explore a possible sale of the company has been terminated," the statement read, adding that there will be "no further comment on this matter."

Reports last month indicated that BGC – which operates more than 150 stores in Texas, Arkansas and Lousiana under its namesake banner, as well as Super 1 Foods and Fresh by Brookshire's – was exploring a sale with investment banker JPMorgan Chase & Co., for as much as $1 billion.

In addition to its retail locations, Tyler, Texas-based BGC operates three distribution centers, a dairy, and a private label manufacturing facility.