REXALL DRUGSTORE CHAIN SOLD FOR $3-BILLION CDN

Mar 02, 2016

By Bob Komsic

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Rexall Health, including its 470 pharmacies, is going to U.S. healthcare company McKesson for $3-billion Canadian.
The deal’s expected to close this year.
Rexall
McKesson, a San Francisco-based company, says the friendly deal is the next natural step, having workedwith the drugstore chain’s owner, the Katz Group out of Edmonton, for 20 years.
McKesson had previously acquired Katz’s independent outlets and franchise businesses that operated under the I.D.A and Guardian banners for $920-million in 2012.
The Katz Group also owns the NHL’s Edmonton Oilers.
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