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BOISE, Idaho - The Federal Trade Commission this week granted early termination of the waiting period with respect to the sale of 80 New England-area Osco Drug stores to Brooks Pharmacy. Albertson's Inc. and Maxi Drug, Inc., a Delaware Corp. d/b/a Brooks Pharmacy, a leading drug retailer in New England, expect the sale of the stores to close this month.
"With the recent decision by the FTC to terminate the waiting period, we are confident the sale will remain on schedule for January," said Larry Johnston, Albertson's chairman and CEO. "Brooks is an exceptional company with a proven track record. Albertson's looks forward to a seamless transition for our customers and associates."
Brooks will purchase the stores for approximately $240 million, subject to final inventories and other adjustments.
"Brooks is pleased with the FTC action," said Brooks president & CEO Michel Coutu. "We are looking forward to the culmination of the acquisition later this month and the significant opportunity to service the Osco customers and to welcome the Osco associates to our company."