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Walgreens To Buy 32 Drug Fair Stores

March 20, 2009
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Somerset, N.J.-based Drug Fair Group Inc. said it entered into an agreement with a subsidiary of Deerfield, Ill.-based Walgreen Co. whereby Drug Fair would sell substantially all of its assets associated with 32 of its stores to Walgreens. Drug Fair and its parent company, CDI Group, said they filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. The proposed transaction remains subject to the marketing requirements of the Bankruptcy Code and the approval of the Bankruptcy Court.

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