Walgreen Co. announced yesterday that the company would purchase the 12 Eaton Apothecary pharmacies in the Boston Area for $19 million.
The deal, reached with D.A.W. Inc, a subsidiary of Florida-based Nyer Medical Group,
Shares of the penny Nyer stock were up some 200 percent in after hours trading.
Eaton has stores in Dorchester, Brockton, Danvers, Peabody, Salem, Sherborn, Framingham, Southborough, Gloucester, Wellesley, Lynn, Westwood, Weston, Marblehead, Woburn and Newton.
Walgreens promised to keep on most of the Eaton employees.
“Today is a very special day for our Boston market” said Dave White, Walgreens market vice president for Boston, in a statement yesterday. “Not only are we keeping most of the pharmacies open, but we also intend for eligible employees at all 12 locations to join our team.”
White said Eaton’s long-time customers will see the same familiar faces and level of service with the expanded Walgreens umbrella of products and services.
“We look forward to continuing Eaton’s 100-plus year tradition of quality pharmacy service in communities around the Boston area,” White said.
“I am confident that the best choice for our customers and employees is Walgreens,” said Mark Dumouchel, President of D.A.W and Nyer Medical Group
The acquisition is subject to certain terms and conditions, and is expected to close within the next 90 days, Walgreens said.
Walgreens is the nation’s largest drugstore chain, operating some 7,000 stories in all 50 states, D.C., and Puerto Rico. The company did $63 billion in sales in fiscal year 2009.