Phar-Mor and ShopKo would retain separate identities after marriage.
This article was originally published in The Tan Sheet
PHAR-MOR AND SHOPKO WOULD RETAIN SEPARATE IDENTITIES AFTER MARRIAGE announced on Sept. 9. Under the merger agreement, the two drug store chains, which have a combined 232 stores in 29 states, would operate as independent subsidiaries of a newly formed holding company, Cabot Noble. The holding company will be headed by Phar-Mor Chairman and former Dart Drug heir Robert Haft. The transaction is expected to close in December, the companies said.
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