Deerfield, Ill. -- Walgreens announced plans to close more than half of the stores it is acquiring in its deal with USA Drug.
The company — which said in July it would purchase the mid-South drug store chain for approximately $438 million — confirmed it would close approximately 76 stores across the region. USA Drug operates 144 stores under the USA Drug, Super D Drug, May's Drug, Med-X and Drug Warehouse banners.
"Although we have not completed the purchase of the USA Drug chain, we are taking steps in anticipation of the completion of the transaction, which is expected to occur in mid-September," Walgreens spokesman Jim Graham said. "After careful planning and market analysis, on Monday we began to notify employees of our intent to close [the stores]. Our decisions about store closures are based on a number of considerations, including size of the market and proximity to other Walgreens and USA Drug stores and affiliates. We expect to close the stores by November."
In its initial acquisition announcement, Walgreens said that the acquired drug stores would continue to operate under their current brand names after the transaction closes, and decisions would be made over time regarding the best, most effective way to harmonize Walgreens and the acquired brands.