Retail News Breaks Archives
Shopko buys two Health Mart locations
October 4th, 2012
DALLAS – Shopko Stores Operating Co. has acquired a pair of Health Mart pharmacies in Wisconsin from an independent operator.
Generational Equity, a Dallas-based mergers-and-acquisitions consultancy, said late Wednesday that its client, Waupaca Woods Pharmacy Inc., based in Waupaca, Wis., has been sold to Shopko. Terms of the transaciotn weren't disclosed.
According to the M&A firm, Waupaca Woods Pharmacy was founded in 1977 by pharmacist Jeff Oestreich, who owned and operated two locally owned Health Mart retail pharmacies, Waupaca Woods Pharmacy and Riverside Clinic Pharmacy. In addition to traditional retail pharmacy services, the stores provide compounding and mail-out prescriptions and make local prescription deliveries.
Oestreich and his staff will be retained by Shopko. "We are dedicated to meeting the health care needs of our customers with prompt, friendly, professional service," Oestreich said in a statement. "We are also committed to looking for new ways to better serve our customers and make their pharmacy experience as convenient as possible."
Generational Equity vice president, Michael Goss, one of the advisers of Waupaca Woods Pharmacy on the deal, commented, "This transaction was the ideal situation in which a highly strategic buyer was present and seeking entrance into the Waupaca community. Both sides worked together with determination to create a win-win scenario for all, with a unified goal of successfully enhancing product offerings and levels of service to customers, as well as the local community and economy in and around Waupaca."
Shopko, based in Green Bay, Wis., has two divisions, Shopko and Shopko Express Rx, and operates more than 136 food and drug stores and six stand-alone pharmacies in the Midwest, Mountain and Pacific Northwest regions.