B&R Stores announced Monday morning that it will be expanding to Waverly.
The owner of Super Saver and Russ's Market said it will acquire Lovegrove’s Grocery Store in Waverly from the Lovegrove family.
“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 B&R Stores, said in a news release. “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.”
B&R said the sale is expected to close by the end of the month. Terms of the deal were not disclosed.
As part of the deal, the name of the store will change to Russ’s Market Express, a new smaller Russ’s Market concept.
Marty Jarvis, B&R Stores' marketing director, said the "Express" name fits the store because it is smaller and does not have many of the departments and programs Russ's Markets offer.
For example, the approximately 8,500-square-foot Lovegrove's store has a meat department, but it doesn't have a pharmacy or a full-service bakery or deli.
Jarvis said that while there are no active plans for additional Russ's Market Express locations, it is a good format should B&R Stores make future acquisitions of smaller grocery stores.
The Waverly location will be B&R Stores' 19th. In addition to Super Saver and Russ's Market, the Lincoln-based company also owns Save Best in Lincoln and Grand Central Apple Market in Kearney.