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WALGREEN BOOSTS INDIANA PRESENCE WITH ACQUISITION OF RIBORDY

Executive Summary

WALGREEN BOOSTS INDIANA PRESENCE WITH ACQUISITION OF RIBORDY, a 26-store drug chain based in Valparaiso, Indiana, Walgreen announced in in an Aug. 30 press release. Walgreen said that it has reached a "definitive agreement" to acquire the assets of the northern Indiana chain. Walgreen did not disclose the acquisition price. Included in the acquisition are 24 Ribordy stores, two R-Way discount drug stores, and a distribution center, Walgreen reported. "The store locations average 13,500 sq. ft. combined sales and storage area, very similar to Walgreen stores," the release explained. The acquisition introduces Walgreen to "several new Indiana markets, including South Bend, LaPorte, and Rensselaer," the drug chain said. Prior to the acquisition, Walgreen operated approximately 25 drug stores in Indiana. The acquisition of Ribordy will put Walgreen over 1,100 stores total in 28 states. Most of the chain's recent growth has been generated through internal expansion. Walgreen's last purchase was the acquisition of 11 stores in the Houston area.(ITEM 200)#050928M001J59307# #970804M001XFCWP5# (ITEM 201)(COPYRIGHT) 1985 F-D-C Reports, Inc., The Pink Sheet, September 2, 1985
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