Thursday, July 5, 2012
Business Walgreen buying Pine Bluff-based drug chain for $438 million
Posted by Max Brantley on Thu, Jul 5, 2012 at 8:36 AM
The Walgreen Co. has announced that it is buying the Pine Bluff-based chain of drug stores owned by Stephen L. LaFrance Holdings and the LaFrance family for $438 million. Channel 4 has details here.
LaFrance grew his company from a single store to 144 stores operating under the names USA Drug, Super D Drug, May's Drug, Med-X and Drug Warehouse in Arkansas, Kansas, Mississippi, Missouri, New Jersey, Oklahoma and Tennessee.
The deal includes corporate offices, distribution facilities and stores, plus wholesale and private brand business.
Don't know yet if the stores will convert to Walgreen branding. A small ironic side note is that Walgreen for years tried to nail down a location at 17th and Main in Little Rock, but neighbors opposed the proposed designs. USA Drug finally bought the property and built a store that won approval for its friendlier design.
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