RETAIL ROUNDUP

Thrifty to Acquire PayLessDrug Stores here is set to buy the Wilsonville, Ore.-based PayLess Drug Stores chain from Kmart, Troy, Mich., for $1 billion in cash and securities. The combination of 572-store PayLess and Thrifty, with 494 stores, would create the second-largest drug store chain after Walgreen's. Combined sales of the two chains in 1992 totaled $5.9 billion. Thrifty is controlled by Leonard

Thrifty to Acquire PayLess

Drug Stores here is set to buy the Wilsonville, Ore.-based PayLess Drug Stores chain from Kmart, Troy, Mich., for $1 billion in cash and securities. The combination of 572-store PayLess and Thrifty, with 494 stores, would create the second-largest drug store chain after Walgreen's. Combined sales of the two chains in 1992 totaled $5.9 billion. Thrifty is controlled by Leonard Green & Partners, an investment firm.

Stop & Shop Adds Supers

Register to view the full article

test - Advanced Registered User

Already a member? .