Inside This Issue - News
Kerr sells 11 stores in Charleston, S.C., market to CVS
June 29th, 2009
CHARLESTON, S.C. – CVS Caremark Corp. has purchased 11 Kerr Drug stores in the Charleston, S.C., market, relocating four of the units into nearby CVS locations. Terms of the deal were not disclosed.
“By expanding our presence in the market through the acquisition of Kerr’s high-quality drug stores, we will offer our customers greater convenience and access to our services,” says a spokesman for CVS Caremark. “We look forward to working with our new colleagues in Charleston in providing expert pharmacy care to the community.”
He adds that Kerr employees will be offered positions with CVS Caremark.
According to Kerr marketing director Diane Eliezer, that retailer’s decision to exit the market “is the last step in a deliberate move to strengthen our core through consolidation of our store base.”
Eliezer notes that most of the outlets involved in the sale were established Rite Aid Corp. stores that Kerr acquired in 1997.
She emphasizes that the sale to CVS Caremark has no impact on Kerr’s operations in North Carolina. “It will instead ensure our continued strong growth in our markets,” she comments.
“Kerr Drug has been repeatedly recognized and honored nationwide and within the industry as an innovator in community pharmacy and the delivery of clinical care. We will continue to focus on those strengths.”