Friday July 6, 2012
Walgreens Acquires Regional Drug Stores
Deerfield, IL — Walgreen Co. has acquired a 144-shop regional drug chain from Stephen L. LaFrance Holdings, Inc.
The transaction includes USA Drug, Super D Drug, May’s Drug, Med-X Drug and Drug Warehouse stores as well as corporate offices, an Arkansas DC, and a wholesale and private brand business. The stores recorded $825 million in 2011 sales across seven states.
The company reports the acquisition is structured as a stock purchase and the stores will continue to operate under their current names in the near term.
Greg Wasson, Walgreen’s president and CEO, says: “This acquisition expands our business in an important region of the country. It will provide significant new pharmacy business while also enabling us to bring the Walgreens experience to many additional smaller communities where USA Drug has developed strong operational expertise.”