Representatives from pharmacy brands Walgreens and Kerr Drug announced Tuesday they’ve reached an agreement for Walgreens to acquire certain assets of the North Carolina-based Kerr Drug’s retail drugstores and specialty pharmacy business.
The transaction will expand Walgreens’ presence in North Carolina, including many smaller communities, and advance its Well Experience to customers.
Details of the agreement say that Walgreens will obtain Kerr Drug’s 76 retail drugstores, including Franklin, and its specialty pharmacy business.
Kerr Drug will retain ownership of its long-term care pharmacy business.
After the transaction closes, Kerr Drug retail drugstores will continue to operate under their current brand in the near term. Company officials say decisions will be made over time regarding the most effective way to integrate Kerr Drug with Walgreens operations.