Retail News Breaks
Walgreens closes Eaton Apothecary store acquisition
February 1st, 2010
DEERFIELD, Ill. – Walgreen Co. has completed the acquisition of the assets of 12 Eaton Apothecary pharmacies in the Boston area from D.A.W. Inc.
The drug store chain had announced the agreement with D.A.W., a subsidiary of Nyer Medical Group Inc., in late October. The transaction was valued at about $19 million.
"Over the past months, we have worked closely with Eaton Apothecary management, employees and the communities they serve to make the transition to Walgreens as seamless as possible," Dave White, Walgreens' market vice president for Boston, said in a statement released late Friday. "We have taken great care to identify and maintain the services that Eaton Apothecary customers rely on, such as free prescription delivery."
Walgreens said that prescription records and staff from the Salem and Gloucester, Mass., Eaton Apothecary stores transitioned to the nearby Walgreens pharmacies in those communities, while all of the other acquired locations will continue to operate as usual.
"Walgreens has hired a majority of our employees and will continue to operate all of our current locations except Salem and Gloucester," commented Mark Dumouchel, president of D.A.W. and Nyer Medical Group. "We're pleased that convenient access to quality pharmacy services and basic needs has been maintained and customers will continue to see many of the familiar faces they know and trust."
Two other Walgreens acquisitions, both announced in January, also are pending completion. The company unveiled a deal to buy three Farmacias El Amal stores in Puerto Rico plus prescription files from 11 other El Amal pharmacies and earlier announced an agreement to purchase Snyders Drug Stores' 25 company-owned stores in Minnesota from Katz Group North America.
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