Seller: Pyramid Foods stores
Sector: Pharmacy, Retail Chain
Walgreens buys Rx files from 10 Pyramid Foods stores
Pyramid Foods on Monday announced the sale of 10 pharmacies to Walgreens in the form of prescription files. The pharmacies, operating under the company’s Price Cutter banners, primarily operated in the Springfield, Mo., markets.
The Pyramid Foods pharmacy at 3260 East Battlefield will remain open.
The pharmacies are being jettisoned in an effort to keep the grocer competitive through investments in click and collect and home delivery, as well as creating space for new value-add retail services within its supermarket box.
“This allows Pyramid Foods to enhance market offerings with other services,” the company stated. “Updated concepts include rolling out curbside pickup, online home shopping and selected delivery by June 1, 2018 as well as adding UPS shipping centers, dry cleaning and other services in the future.”
While the grocer may be pulling out of the pharmacy business, the chain still is growing. “Pyramid Foods is expanding its rural pharmacy footprint [across Missouri] into Lebanon, Purdy, Neosho and Branson,” the company stated. “Additional locations are also being considered.”
What does this transaction mean for the strategic options and valuation of your business? Contact Paragon Ventures at 800-719-1555 for more information and visit our new website at www.paragonventures.com.