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Walgreen Co. To Acquire Privately Owned Firm, Kerr Drug

By Warren Paige

Drugstore chain, Walgreen Company (NYSE: WAG) announced on Tuesday that it has agreed to acquire a privately held pharmacy chain, Kerr Drug. The terms of the deal were not announced. North Carolina based Kerr Drug, which operates retail drugstores and specialty pharmacy business, reported sales of nearly $381 million, in the last fiscal year. Walgreen, which is the nation’s leading drugstore chain, had sales of $72 billion, in the latest fiscal year. Deerfield-based Walgreen said that the acquisition will help it to gain traction with new wellness centers in North Carolina.

September 10th, 2013 | Tags: | Category: Large Cap Growth Stocks

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.