DEERFIELD, Ill., Sept. 10 (UPI) -- U.S. drug store chain Walgreen Co. said Tuesday it would buy regional chain Kerr Drug for an undisclosed sum.
Kerr, based in Raleigh, N.C., operates 76 retail drugstores and runs a specialty pharmacy business.
Although the terms of the sale were not released, the companies said Kerr Drug's retail stores and specialty pharmacy business recorded total sales of $381 million in 2012.
The deal is expected to close this year, after which Kerr will continue to operate as a separate brand, as Walgreen works on how to bring the stores into the Walgreen brand.
"The Kerr Drug retail drugstores and specialty pharmacy business are an exceptional addition to the Walgreens family of companies," said Walgreens President and Chief Executive Officer Greg Wasson in a statement.
"We are closely aligned on the important task of expanding the healthcare role that community pharmacists can have with their patients, and we share the common goal of stepping out of the traditional drugstore format to create a new experience for our customers," Wasson said.
