ShopKo seeking to grow retail, PBM businesses after Phar-Mor merger falls through.
This article was originally published in The Tan Sheet
Executive Summary
SHOPKO TO PURSUE EXPANSION OF RETAIL DIVISION and its pharmacy benefit management service after the Green Bay, Wis.-based drug store chain's merger with Phar-Mor was called off April 2, ShopKo said. "Expanding both the scale and scope of our business" remains the core strategy for ShopKo, the chain commented. In June 1996 meetings with Salomon Brothers, the investment banking firm advised ShopKo to grow its retail division and its ProVantage pharmacy benefit management subsidiary.