Walgreen Co. said Friday it has closed its acquisition of 31 Drug Fair locations in central and western New Jersey. The finalization of the deal stems from an agreement reached in March associated with Drug Fair’s Chapter 11 process, Walgreens noted. Terms of the transaction were not disclosed.
This story first appeared in the May 11, 2009 issue of WWD. Subscribe Today.
Walgreens also expects to complete transactions for two additional Drug Fair locations in the upcoming weeks, according to the $59 billion drugstore chain. “Over the next few weeks, the stores will be remerchandised and refreshed, incorporating new signage and displays, as well as exclusive products including the…Walgreens brand,” stated the retailer, which operates 6,783 drugstores.