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D&K Wholesale acquires 50% interest in Pharmaceutical Buyers GPO for $3.75 mil.

Executive Summary

D&K WHOLESALE BUYS 50% OF PHARMACEUTICAL BUYERS, INC. GPO for $3.75 mil. in a stock transaction effective Nov. 30. Massachusetts Mutual Life Insurance acquired a 30% share of the group purchasing organization for $2.25 mil.; MassMutual is a long-standing subordinated lender to D&K and owns 15% of the St. Louis-based wholesaler. PBI founders David McCay and Robert Korenblat retain the remaining 20% of the firm, which had been privately held.
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