Friday, September 19, 2014

Buckner Retirement looking at major expansion with acquisition

Buckner Retirement's properties include a planned project in North Dallas. (Buckner)
Dallas-based Buckner Retirement Services Inc. is working on a plan to buy or affiliate with another retirement housing firm.
Buckner said Thursday that its going after Sears Methodist Retirement System Inc., an Abilene-based firm that’s been in bankruptcy since June.
If the two companies join, it would make them “the largest not-for-profit senior living provider in Texas and among the largest 20 in the United States,” Buckner said.
The deal would include acquisition of seven of Sears’ 11 senior communities.
Sears Methodist Retirement has been in business since 1966 and provides housing for more than than 1,500 residents.
The combined companies would have an annual budget of more than $150 million, according to Buckner.
“Sears has strong brand recognition in Texas and complements our mission and culture,” Charlie Wilson, Buckner senior vice president, said in a statement.
Buckner has senior living communities in Austin, Beaumont, Burnet, Dallas, Houston, Longview and San Angelo.
A new project in North Dallas planned to open in 2018.
Sears Methodist has facilities in Abilene, Amarillo and in Tyler.