Walgreens agrees to acquire pharmacy business, other assets from Snyder Drug in Minnesota
DEERFIELD, Ill. Walgreens has agreed to acquire the pharmacy business and certain other assets of 25 company-owned Snyder’s Drug Stores in Minnesota.
Walgreens will acquire and continue to operate certain locations and anticipates staffing most of these store positions with Snyder’s employees. At other locations, Walgreens will purchase the prescription files and transfer them to nearby Walgreens pharmacies. Patients whose prescriptions are being transferred will be notified by letter once the transaction has been completed later this month.
After the transaction is completed, Snyder’s expects to cease operations of its company-owned stores. The acquisition is subject to certain customary terms and conditions. Financial terms of the transaction were not disclosed.
“Walgreens trusted pharmacy service goes back 109 years, including more than 80 years in Minnesota,” said Walgreens Minnesota market VP Jeff Bruneteau. “Our pharmacy staffs will be ready to make the transition as seamless as possible for Snyder’s patients. We look forward to continuing Snyder’s tradition of quality pharmacy service in communities around Minnesota.”
Snyder's has been in business for over 80 years. In addition to operating stores in Minnesota, the chain operates stores in Michigan, Illinois and Iowa.
“We appreciate our customers’ many years of loyalty and patronage,” said Snyder’s president Neal Wahlman. “We determined that Snyder’s patients and customers could best be served by a large national player like Walgreens. In most cases, Walgreens had nearby pharmacies which will facilitate a smooth transition.”