Retail News Breaks
Walgreens to acquire 12 Eaton Apothecary pharmacies
October 26th, 2009
DEERFIELD, Ill. – Walgreen Co. plans to buy 12 Eaton Apothecary pharmacies in the Boston area from D.A.W. Inc., a subsidiary of Nyer Medical Group.
Walgreens, which announced the deal just before the weekend, said the transaction is valued at about $19 million. The acquisition is expected to close in the next 90 days.
"I am happy to say that Walgreens' interest in Eaton's has been beyond buying only prescription files. They will continue to operate a majority of the 12 stores as well as hire all eligible employees from the 12 locations," Mark Dumouchel, president of D.A.W. and Nyer Medical Group, said in a statement.
Dave White, Walgreens' market vice president for Boston, commented, "Eaton’s customers should expect to see the familiar faces and services they know and trust, while benefiting from Walgreens' expanded product and service offering. We look forward to continuing Eaton’s 100-plus-year tradition of quality pharmacy service in communities around the Boston area."
The deal marks Walgreens' third retail pharmacy acquisition this year. In May, the drug store chain completed its acquisition of 31 Drug Fair stores in New Jersey, which followed a deal to acquire 12 Rite Aid stores — seven in San Francisco and five in Idaho — that was announced in February.
Walgreens currenlty operates 7,045 drug stores in all 50 states, the District of Columbia and Puerto Rico. The chain celebrated the opening of its 7,000 drug store in Brooklyn, N.Y., earlier this month.
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