Walgreens To Acquire Certain Assets Of Kerr Drug - Quick Facts

(RTTNews) - Walgreen Co. (WAG) and Kerr Drug, a privately held regional pharmacy chain in North Carolina, announced they have entered into a definitive agreement under which Walgreens would acquire certain assets of Kerr Drug's retail drugstores and specialty pharmacy business. Financial terms of the agreement were not disclosed. Walgreens expects the transaction will not have a material impact on earnings per share in fiscal 2014.

The acquisition is structured as an asset transaction and includes Kerr Drug's 76 retail drugstores and its specialty pharmacy business. The acquisition also includes a distribution center. Kerr Drug will retain ownership of its long-term care pharmacy business.