Kerr Drug was an American chain of 76 drug stores throughout North Carolina. Its headquarters were located in Raleigh, North Carolina. On September 10, 2013, Walgreens announced its purchase of Kerr.[1][2]
History
The company was founded in Raleigh by Banks Kerr in 1951. The chain was operating 97 stores when it was acquired in 1995 by JCPenney. In 1996, when JCPenney attempted to purchase Eckerd Drug, the FTC forced JCPenney to divest itself of 34 former Kerr Drug stores and 130 Rite Aid stores. These stores were ultimately purchased by a group led by former Thrift Drug executives led by Anthony Civello who became Kerr Drug's President & CEO who left the JC Penney organization following the Eckerd acquisition.
In 2013, Walgreens purchased the remaining Kerr Drug stores and its distribution center. [3]
References
- ^ "Walgreens buying Raleigh-based Kerr Drug". WRAL. September 10, 2013. Retrieved September 11, 2013.
- ^ "Walgreens furthers reach into North Carolina with acquisition of Kerr Drug". Drug Store News. September 10, 2013. Archived from the original on September 13, 2013. Retrieved September 11, 2013.
- ^ "Walgreens buying Raleigh-based Kerr Drug". 10 September 2013.