REAL ESTATE

Office Depot to open 13 remodeled stores in Houston market

BY Staff Writer

Boca Raton, Fla. — Office Depot Inc. will open 13 newly remodeled locations in the Houston area on March 28.

The updates stores feature more colorful signage and easy-to-navigate floor plans. The stores were redesigned based on customer feedback and shopping patterns.

Office Depot operates 1,677 stores in 60 countries, 46 of which are located in the Houston area.

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FINANCE

McKesson completes Katz Group Canada acquisition

BY Michael Johnson

San Francisco — McKesson on Monday announced that it has completed the previously announced acquisition of the independent banner and franchise businesses of Katz Group Canada in an all-cash transaction that closed March 25.

McKesson in January agreed to acquire the Canadian company’s banner pharmacy business, Drug Trading, and its franchise pharmacy business, Medicine Shoppe Canada, in a deal worth approximately $926 million. Under the terms of the agreement, McKesson substantially will acquire all of the assets of Drug Trading, the shares of Medicine Shoppe Canada and a joint ownership interest in ProPharm’s pharmacy software application.

Katz’s banner and franchise operations will be integrated into McKesson’s Canadian pharmaceutical distribution and services business, which is part of McKesson’s Distribution Solutions segment.

McKesson Canada currently operates a number of banner groups, including Proxim, Associated Retail Pharmacy and Family Health Care Pharmacy.

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News

Rite Aid launches smartphone app

BY Alaric Dearment

New York — Rite Aid has become the latest chain to join the retail smartphone application game.

The Camp Hill, Pa.-based retail pharmacy chain recently launched an app for smartphones that allows users to refill prescriptions by scanning their barcodes or entering the prescription number, transfer prescriptions, manage their Wellness+ loyalty card accounts, view weekly circulars and compile shopping lists, among other features.

The app is available for major smartphone brands including the Apple iPhone and Android phones.

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