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Tuesday, Sep 10
Walgreen makes acquisition in North Carolina
- Walgreen (WAG +0.2%) has agreed to acquire 76 retail drugstores and the specialty pharmacy business of Kerr Drugs, a privately held regional chain in North Carolina. The deal also includes a distribution center, although Kerr will retain its long-term care pharmacy business.
- While terms of the purchase weren't disclosed, Walgreen said Kerr's drugstores and specialty pharmacy operations generated sales of $381M in FY 2012.
- The deal expands Walgreen's presence in the "fast-growing" market of North Carolina, including into many smaller communities.
- Walgreen expects the transaction to close this year. (PR)