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Walgreens to Acquire 17 Drugstores in Memphis, Tenn.
March 18, 2010
Deerfield, Ill.-based Walgreens announced that it has reached an agreement with USA Drug to acquire the prescription files and certain other assets of 17 Ike’s and Super-D drugstores in the Memphis, Tenn., area. Walgreens will purchase the prescription files at each of the 17 locations and transfer them to nearby Walgreens pharmacies. In addition, Walgreens is currently in negotiations with USA Drug to acquire and continue to operate the two remaining Ike’s drugstores (located on Eastgate Park Avenue and Union Avenue) and anticipates staffing most of the store positions with the existing employees. The acquisition is subject to certain customary terms and conditions. Financial terms of the transaction were not disclosed. Walgreens currently operates 7,179 drugstores.
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DDI visited the new JCPenney department store at Manhattan Mall in New York and spoke with store manager Joe Cardamone. Below is video of that conversation paired with a walk-through tour of the new store. For more on the JCPenney store, look out for DDI's November/December issue mailing out at the end of November.
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