Albertson's to Sell RxAmerica
's here has agreed to sell its interest in RxAmerica, a pharmacy benefits management company, to Longs Drug Stores Corp., Walnut Creek, Calif., which owned RxAmerica jointly with Albertson's. The terms were not disclosed.
RxAmerica was founded in 1994 by American Stores, which was subsequently acquired by Albertson's. Longs became a partial owner of RxAmerica in 1997, replacing American Stores' previous partner, Geneva Pharmaceuticals.
Karen Ramos, spokeswoman, Albertson's, said the sale of RxAmerica was not related to Albertson's other restructuring initiatives, which include store closings and staff reductions.
"The original agreement with Longs was that one company could buy out the other if there was a change in control, and Albertson's merger with American Stores is what prompted that action," she said.
Longs said the PBM could have synergy with its e-commerce business. Analysts said Longs has been using RxAmerica's mail-order component to support Longs' online pharmacy.
The transaction is expected to close in the third quarter, pending regulatory approval.
VMC to Supply Raley's N.M. Stores
WEST SACRAMENTO, Calif. -- Raley's here selected Value Merchandisers Co., Kansas City, Mo., to supply its six New Mexico supermarkets with general merchandise, seasonal and health and beauty care products.
The supplier reset the first store early this month and is in the process of resetting the remaining stores, according to Kevin Curry, vice president of nonperishables, Raley's. He said the VMC agreement replaces a hodgepodge of supplier relationships the retailer had for nonfood in the New Mexico market.
