DEERFIELD, Ill -- Walgreens announced Tuesday it will buy Raleigh-based Kerr Drug.
Walgreens will own Kerr Drug's 76 retail stores, its specialty pharmacy business, and a distribution center. However, Kerr Drug will continue to own its long-term care pharmacy business.
No details about the deal were released.
"The Kerr Drug retail drugstores and specialty pharmacy business are an exceptional addition to the Walgreens family of companies," Walgreens President and CEO Greg Wasson said in a statement. "We are closely aligned on the important task of expanding the health care role that community pharmacists can have with their patients, and we share the common goal of stepping out of the traditional drugstore format to create a new experience for our customers."
Kerr Drug was founded in 1951. The statement from Walgreens said Kerr Drug made $381 million between the retail stores and specialty pharmacy business during the 2012 fiscal year.
Walgreens operates more than 8,100 stores throughout the U.S. and Puerto Rico. They reported $72 billion in sales during the 2012 fiscal year.