WALGREEN BOOSTS INDIANA PRESENCE WITH ACQUISITION OF RIBORDY
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
You may also be interested in...
Newly released Medicare Part D data sheds light on the sales hit that branded pharmaceutical manufacturers will face when the coverage gap discount program gets under way in 2011
FDA appears headed for a showdown with clinicians and the pharmaceutical industry over the proposed new clinical trial endpoints for acute bacterial skin and skin structure infections, the guidance's approach for justifying a non-inferiority margin and proposed changes in the types of patients that should be enrolled in trials
Specialty drug maker Shire has quietly begun scouting deals with a brand-new $50 million venture fund, the latest of several in-house investment arms to launch with their parent company's pipelines, not profits, as the measure of their worth