H.D. Smith completes acquisition of Calif. drug wholesaler
SPRINGFIELD, Ill. — Drug wholesaler H.D. Smith has finalized its purchase of a wholesale company based in California.
H.D. Smith said Friday that it had completed its acquisition of Stockton, Calif.-based Valley Wholesale Drug, which it will run as a wholly owned subsidiary. Financial terms of the deal were not disclosed, but day-to-day operations at Valley will be run by its CEO, Stephen Shoneff.
“The close of the acquisition of Valley Wholesale Drug marks a significant step in our strategy to continue growing our national footprint to serve more independent pharmacists across the country — especially in the critical market of California, and moving forward, into the Pacific Northwest,” H.D. Smith chairman and CEO Dale Smith said. “We will continue to focus on exceptional service to our core customers — the retail independent pharmacy — and we will be well-served to execute on this objective under the leadership of Stephen Shoneff, who has managed the Valley Wholesale Drug business successfully during the last 26 years.”