Walgreen Co.(WAG: Quote) announced Monday that it has completed its purchase of a regional drugstore chain in the mid-South region of the United States from Stephen LaFrance Holdings Inc. and members of the LaFrance family.
The transaction includes 144 stores that operate under the USA Drug, Super D Drug, May's Drug, Med-X and Drug Warehouse names located in Arkansas, Kansas, Mississippi, Missouri, New Jersey, Oklahoma and Tennessee.
The acquisition 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 subject to adjustment in certain circumstances. The chain recorded sales of $825 million in 2011.
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by RTT Staff Writer
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