Content about Acquisition

September 10, 2013

Private investment firm Yucaipa Cos., which was founded by billionaire Ron Burkle, has announced that it plans to acquire Fresh & Easy Neighborhood Market from U.K.-based Tesco PLC.

EL SEGUNDO, Calif. — Private investment firm Yucaipa Cos., which was founded by billionaire Ron Burkle, has announced that it plans to acquire Fresh & Easy Neighborhood Market from U.K.-based Tesco PLC.

Yucaipa's purchase is slated to be complete within three months. In the meantime, it is expected to be business as usual for most Fresh & Easy stores.

September 5, 2013

Japanese drug maker Otsuka Pharmaceutical Co. is buying U.S.-based Astex Pharmaceuticals for $886 million, Otsuka said Thursday.

TOKYO — Japanese drug maker Otsuka Pharmaceutical Co. is buying U.S.-based Astex Pharmaceuticals for $886 million, Otsuka said Thursday.

Astex, based in Dublin, Calif., uses a drug-discovery system known as fragment-based drug discovery, which enables rapid discovery and development of compounds for target proteins implicated in diseases and works by evaluating binding of target proteins with small molecules through 3D structural analysis. Astex developed and launched the chemotherapy drug Dacogen (decitabine), currently sold by Eisai.

September 4, 2013

IRI announced it has acquired Aztec, a provider of market measurement and related services for consumer packaged goods, liquor and pharmaceutical manufacturers and retailers in Australia, Canada, Hong Kong, New Zealand, South Africa, Sweden and the United Kingdom. Aztec was acquired from Aegis Media.

CHICAGO  — IRI announced it has acquired Aztec, a provider of market measurement and related services for consumer packaged goods, liquor and pharmaceutical manufacturers and retailers in Australia, Canada, Hong Kong, New Zealand, South Africa, Sweden and the United Kingdom. Aztec was acquired from Aegis Media.

August 28, 2013

A subsidiary of Endo Health Solutions is buying Boca Pharmacal for $225 million, Endo said Wednesday.

MALVERN, Pa. – A subsidiary of Endo Health Solutions is buying Boca Pharmacal for $225 million, Endo said Wednesday.

The Malvern, Pa.-based drug maker said the acquisition, through its Qualitest generics subsidiary, would give it access to a "unique" portfolio of generic drugs, an attractive pipeline and would build on Qualitest's strength in controlled substances. Boca focuses on niche areas, commercializing and developing drugs that include controlled substances, semisolids and solutions.

August 26, 2013

Biotech company Amgen is buying Onyx Pharmaceuticals, the companies said Sunday.

THOUSAND OAKS, Calif. — Biotech company Amgen is buying Onyx Pharmaceuticals, the companies said Sunday.

Onyx, based in South San Francisco, Calif., has a portfolio of cancer drugs, including the injected multiple myeloma drug Kyprolis (carfilzomib), as well as Nexavar (sorafenib) tablets, developed with Bayer HealthCare Pharmaceuticals; Stivarga (regorafenib) tablets, developed by Bayer; and palbociclib, developed by Pfizer.

August 26, 2013

Former Kinray owner Stewart Rahr has made a large donation to an organization looking for a cure for prostate cancer.

NEW YORK — Former Kinray owner Stewart Rahr has made a large donation to an organization looking for a cure for prostate cancer.

Saying the move "stunned the crowd," Rahr announced at a gathering at the Hamptons on New York's Long Island that he would donate $3 million to the Prostate Cancer Foundation, an initiative run by investor Michael Milken, who was host to the event.

Other attendees included David Koch, Eddie Trump, former New York Gov. David Patterson and others.

August 8, 2013

Despite significant challenges coming from private label, Procter & Gamble is still attempting to innovate the No. 1 brand in all of digestives — Prilosec OTC.

Despite significant challenges coming from private label, Procter & Gamble is still attempting to innovate the No. 1 brand in all of digestives — Prilosec OTC. The company launched a wildberry-flavored Prilosec OTC earlier this year, not to be chewed, but to improve the experience in taking a Prilosec OTC tablet versus an unflavored, generic equivalent.

August 7, 2013

PingMD, a New York City-based mobile communications healthcare solutions company, has announced that Lambda Fund IV is making an investment in PingMD’s B-round of funding.

NEW YORK — PingMD, a New York City-based mobile communications healthcare solutions company, has announced that Lambda Fund IV is making an investment in PingMD’s B-round of funding.
 
Having invested in companies such as SeniorBridge (acquired by Humana), AthenaHealth, Medidata Solutions and Health Dialog acquired by BUPA, the Lambda Fund’s Managing Partner Anthony Lamport said, “I am excited about PingMD's transformational approach to intelligent communications in healthcare.” 

August 2, 2013

Pharmacy benefit manager Catamaran Corp. had $3.4 billion in revenues in second quarter 2013, the company said.

LISLE, Ill. — Pharmacy benefit manager Catamaran Corp. had $3.4 billion in revenues in second quarter 2013, the company said.

That figure represented a 101% increase in the PBM's revenues in second quarter 2012 and resulted in a profit of $63.4 million, 132% higher than last year.

"During the second quarter of 2013, we continued to successfully execute our growth strategy, driving new customer wins by leveraging our flexibility and customizable model to deliver more control and savings to our clients," Catamaran chairman and CEO Mark Thierer said.

August 2, 2013

Cereal maker Post Holdings will be playing a larger role in the supplement space with its proposed acquisition of Premier Nutrition, makers of the Joint Juice brand.

ST. LOUIS — Cereal maker Post Holdings will be playing a larger role in the supplement space with its proposed acquisition of Premier Nutrition, makers of the Joint Juice brand. The company announced it has signed a definitive agreement to acquire Premier Nutrition on Friday.

July 29, 2013

U.S.-based drug maker Perrigo Co. will buy Ireland's Elan Corp. for $8.6 billion, the companies said.

ALLEGAN, Mich. — U.S.-based drug maker Perrigo Co. will buy Ireland's Elan Corp. for $8.6 billion, the companies said Monday.

Elan is best known for the multiple sclerosis treatment Tysabri (natalizumab), marketed and distributed by Biogen Idec. Perrigo manufactures various branded and generic prescription and OTC drugs. A previously announced deal, whereby New York-based Royalty Pharma would acquire the Dublin-based drug maker, fell apart last month after Elan shareholders voted in favor of a share-buyback plan.

July 25, 2013

Loblaw Cos., which recently announced plans to acquire Shoppers Drug Mart, posted a 2% increase in second-quarter revenue and a 1.1% lift in same-store sales as its drug store sales fell flat for the period.

BRAMPTON, Ontario — Loblaw Cos., which recently announced plans to acquire Shoppers Drug Mart, posted a 2% increase in second-quarter revenue and a 1.1% lift in same-store sales as its drug store sales fell flat for the period.

Revenue for the quarter totaled C$7.5 billion, up 2% compared with the year-ago period. Retail sales increased 1.9% to C$7.37 billion.

July 23, 2013

François Coutu has resigned from Rite Aid's board, effective Oct. 31, 2013, Rite Aid said in a filing with the Securities and Exchange Commission.

NEW YORK — François Coutu has resigned from Rite Aid's board, effective Oct. 31, 2013, Rite Aid said in a filing with the Securities and Exchange Commission.

July 23, 2013

IRI on Tuesday named Richard Lenny chairman of its board of directors. Lenny succeeds Lawrence Benjamin, who will remain a member of the board and a senior adviser.

CHICAGO — IRI on Tuesday named Richard Lenny chairman of its board of directors. Lenny succeeds Lawrence Benjamin, who will remain a member of the board and a senior adviser.

July 18, 2013

Supervalu announced the election of the final two members to its reconstituted board: Eric Johnson, president and CEO of Baldwin Richardson Foods Co., and Sam Duncan, Supervalu president and CEO.

MINNEAPOLIS — Supervalu on Thursday announced the election of the final two members to its reconstituted board: Eric Johnson, president and CEO of Baldwin Richardson Foods Co., and Sam Duncan, Supervalu president and CEO.

July 15, 2013

Boulder Brands, Inc. announced it had acquired 80% of GlucoBrands, owner of Level Life Foods. Based in Colorado, Level is a growing company, approaching $1 million in sales that provides products to help in the daily management of diabetes.

BOULDER, Colo. — Boulder Brands, Inc. announced last week it  had acquired 80% of GlucoBrands, LLC, owner of Level Life Foods. Based in Colorado, Level is a growing company, approaching $1 million in sales, which provides products to help in the daily management of diabetes.

July 15, 2013

Loblaw Cos. and Shoppers Drug Mart signed a definitive agreement under which Loblaw will acquire Shoppers Drug Mart. The move follows the acquisition of Safeway Canada by Sobey's last month and a growing incursion of U.S. retail north of the border, including both Target Canada and Walmart Canada.

When Loblaw announced last week it would debut a new health-focused format to take on Whole Foods, no one could have expected it would make a deal to become the No. 1 pharmacy retailer in Canada, leapfrogging from No. 8 to that top spot with the stroke of a pen. Together the companies will operate 1,797 pharmacies across a total of 2,348 locations, meaning 1-in-5 Canadian pharmacies now will be operated by the merged company. Shoppers Drug Mart represents $4.9 billion in annual pharmacy sales, representing 47.3% of sales and $3.9 million in pharmacy sales on a per store basis. And if Loblaw's pharmacy sales are brought up to that level, the merged companies will represent $6.8 billion in pharmacy revenue.

Loblaw Cos. and Shoppers Drug Mart signed a definitive agreement under which Loblaw will acquire Shoppers Drug Mart. The move follows the acquisition of Safeway Canada by Sobey's last month and a growing incursion of U.S. retail north of the border, including both Target Canada and Walmart Canada. 

July 15, 2013

Loblaw and Shoppers Drug Mart announced on Monday a definitive agreement under which Loblaw will acquire Shoppers Drug Mart for C$12.4 billion in cash and stock.

TORONTO — Loblaw Cos. and Shoppers Drug Mart announced on Monday a definitive agreement under which Loblaw will acquire Shoppers Drug Mart for C$12.4 billion in cash and stock.
 

July 12, 2013

Stephen LaFrance, former owner of USA Drug, passed away unexpectedly last month. LaFrance was 71.

Stephen LaFrance, former owner of USA Drug, passed away unexpectedly last month. LaFrance was 71.

July 9, 2013

IRI on Tuesday announced the purchase of FreshLook Marketing Group, a leading supplier of market research information and consulting services to the fresh food industry.

CHICAGO — IRI on Tuesday announced the purchase of FreshLook Marketing Group, a leading supplier of market research information and consulting services to the fresh food industry.

July 9, 2013

Kroger on Tuesday announced a definitive merger agreement under which Kroger will purchase all outstanding shares of Harris Teeter for $49.38 per share in cash as part of a deal valued upward of $2.5 billion.

CINCINNATI — Kroger on Tuesday announced a definitive merger agreement under which Kroger will purchase all outstanding shares of Harris Teeter for $49.38 per share in cash as part of a deal valued upward of $2.5 billion. 

The transaction price represents a premium of 33.7% to the Harris Teeter closing share price on Jan. 18, 2013, the day of the first media report that Harris Teeter was evaluating strategic alternatives. The terms of the agreement were approved by the boards of both companies.

July 2, 2013

Rite Aid has finished a buyback program for more than $800 million worth of debt using proceeds from a sale of notes that allow the company to borrow at a lower interest rate, the retail pharmacy chain said Tuesday.

CAMP HILL, Pa. — Rite Aid has finished a buyback program for more than $800 million worth of debt using proceeds from a sale of notes that allow the company to borrow at a lower interest rate, the retail pharmacy chain said Tuesday.

Rite Aid said it has finished a cash offer for $810 million in senior notes with a 9.5% interest rate due 2017, funded with proceeds from a previous sale of $810 million worth of 6.75% senior notes due 2021.

June 27, 2013

Canadian retail pharmacy chain the Jean Coutu Group continued offloading its shares in Rite Aid as it announced Wednesday the sale of 72.5 million shares in the Camp Hill, Pa.-based drug store chain.

LONGUEUIL, Quebec — Canadian retail pharmacy chain the Jean Coutu Group continued offloading its shares in Rite Aid as it announced Wednesday the sale of 72.5 million shares in the Camp Hill, Pa.-based drug store chain.

At $2.75 per share, the sale is valued at about $199.4 million. The company also said it had filed a notice with the Securities and Exchange Commission to sell another 40.5 million shares for $110.8 million.

Jean Coutu holds about 105.9 million shares of Rite Aid, and the sale brings its share in the U.S. retailer down to 7.2%.

June 26, 2013

New York — Former Duane Reade CEO Anthony Cuti and CFO William Tennant failed in an attempt to have their 2010 convictions for securities fraud overturned. The Second U.S. Circuit Court of Appeals in New York upheld a June 2010 federal jury decision to find Cuti and Tennant guilty of providing misleading earnings information to shareholders and private equity group Oak Hill Capital partners, which purchased Duane Reade in 2004, between 2000 and 2004.

June 21, 2013

Talenti Gelato & Sorbetto announced its expansion into the novelty category with the launch of Talenti Gelato Pops. The new product began rolling out to retailers nationwide in May 2013.

MINNEAPOLIS — Talenti Gelato & Sorbetto announced today its expansion into the novelty category with the launch of Talenti Gelato Pops. The new product began rolling out to retailers nationwide in May 2013.

The new line of Talenti Gelato Pops will feature eight of Talenti's best-selling gelato flavors all dipped in dark chocolate. Talenti Gelato Pops will be sold in a three-bar pack and will display Talenti's new logo and branding. Each pack will contain three 3-oz. individually wrapped gelato pops on a stick.