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Article: Reliable to buy 221 Revco drug stores. (Reliable Drug Stores Inc.; Revco D.S. Inc.)
- Article from:
- Chain Drug Review
- Article date:
- May 21, 1990
- Author:
CopyrightCOPYRIGHT 1990 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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Reliable to buy 221 Revco drug stores
TWINSBURG, Ohio - In the first phase of its proposed divestiture of 712 stores, Revco D.S. has reached an accord to sell 221 units in eight states to Reliable Drug Stores of Indianapolis. The price of the sale will be disclosed at a June 19 hearing in bankruptcy court, which must approve Revco's sale, says Reliable president Roger Grass.
The outlets will almost triple the size of the 112-store Reliable, which was formed just last July when Grass, backed by majority owner Acadia Partners LP, purchased Peoples Drug Stores' former Haag division for $50 million. Acadia, a Fort Worth-based investment firm, is also ...