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Article: Thrifty PayLess sets initial public offering.
- Article from:
- Chain Drug Review
- Article date:
- March 11, 1996
CopyrightCOPYRIGHT 1996 Racher Press, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WILSONVILLE, Ore. - The parent company of Thrifty PayLess Inc. is planning to take the drug chain public.
Thrifty PayLess Holdings Inc. has registered with the Securities and Exchange Commission for an initial public stock offering to raise $325 million for the 1,048-unit retailer. Most of the money is slated for reducing its debt load.
In a memo to employees, Gordon Barker, president and chief executive officer of the drug chain, says, "Due to your great efforts, this offering has come at a very good time. We must keep up our tremendous efforts to continue to make our company successful. I am relying on each and every one of you to continue all the customer ...