Wallgreens completes acquisition of regional drugstore chain
Leading American drug retailing chain in the U.S., Wallgreen Co said it has completed its acquisition of a regional drugstore chain in mid-South region of the U.S. from Stephen L. LaFrance Holdings, Inc and members of LaFrance family.
The deal includes 144 stores that operate under the USA Drug, Super D Drug, May’s Drug, Med-X and Drug warehouses located in Arkansas, Kansas, Mississippi, Missouri, New Jersey, Oklahoma, and Tennessee.
The purchase also includes corporate offices, a distribution center located in Pine Bluff, Ark and a wholesale and private brand business for a total of approximately $438 million.
The chain posted sales of $825 million in 2011. The deal has been structured as a purchase of the stock of Stephen L. LaFrance Holdings, Inc, which owns most of the acquired business. It also includes buy of assets or stock of certain affiliated companies or stores and other parts of the business that are not owned by that holding company.
Wallgreen Co aims to be America’s first choice for health and daily living. It is one of the largest drug retailing chain in U.S. Wallgreen Co's scope of pharmacy includes services like retail, specialty, infusion, medical facility and mail service. The company operates 7,929 drugstores in 50 states, the District of Columbia and Puerto Rico. Walgreens is currently headquartered in nearby suburb of Deerfield, Illinois.
