Retail News Breaks Archives

Walgreens closes Drug Fair store acquisition

DEERFIELD, Ill. – Walgreen Co. has completed its acquisition of 31 Drug Fair stores in central and western New Jersey.

In addition, Walgreens said it has purchased the prescription files of Drug Fair stores in Clifton and Morris Plains, N.J., and expects to close transactions for two other Drug Fair locations in the coming weeks.

Walgreens announced its agreement to buy the Drug Fair stores in mid-March. Terms of the deal were not disclosed.

Drug Fair Group Inc. made the sale in connection with its filing for Chapter 11 bankruptcy protection. The deal involved the bulk of the Somerset, N.J.-based retailer's stores.

All of the Drug Fair stores are in New Jersey. In announcing the acquisition, Walgreens also indicated that it may close some of the locations.