Deerfield, Ill. Walgreens has agreed to acquire the pharmacy business and certain other assets of 25 company-owned Snyderâ€™s Drug Stores in Minnesota.
Walgreens will acquire and continue to operate certain locations and anticipates staffing most of these store positions with Snyderâ€™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, Snyderâ€™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.
â€śWe appreciate our customersâ€™ many years of loyalty and patronage,â€ť said Snyderâ€™s president Neal Wahlman. â€śWe determined that Snyderâ€™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.â€ť
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.