Remember the blockbuster $438 million deal earlier this summer when Walgreens acquired Pine Bluff-based USA Drug and its affiliates, including SAJ Distributors?
Today, L&R Distributors Inc. of New York said it has entered into an agreement with Walgreen Co. to acquire the assets of SAJ Distributors, along with the private label line Select Brand.
Walgreen Co. acquired SAJ earlier this year when it purchased the USA Drug regional drugstore chain from Stephen L. LaFrance Holdings, Inc., and members of the LaFrance family.
L&R will operate the existing SAJ Distribution Center and offices located in Pine Bluff, Ark., operating under the SAJ name and retaining many existing SAJ staff who work in customer service, accounting, purchasing and operations. L&R also said it would maintain the existing SAJ sales staff, delivery methods, and inventory mix.
“This will ensure a 'no change' turn-key solution for the existing SAJ family of customers,” L&R said in a statement. “Over time L&R's SAJ Division will introduce new items, categories, and unique promotional programs which are currently in place and available to L&R customers across the country.”
Financial terms of the deal were not disclosed.