Dallas, TX, July 18, 2012 --(PR.com
)-- The Transition Companies LLC (“TTC”) is pleased to announce the sale of Jim Myers Drug, Inc. (“JMD”) to The Walgreen Company (“Walgreen’s”), one of the country’s largest drugstore chains. TTC acted as JMD’s sole M&A advisor for this transaction. The transaction closed in June 2012.
Jim Myers Drug, Inc., a local family-owned pharmacy chain with five stores in Tuscaloosa, Alabama, has been in business for almost 37 years. JMD will continue its operations and its stores will be co-branded Jim Myers Drugs, a Walgreens pharmacy. Walgreens has agreed to keep JMD’s services, like home delivery, and will offer jobs to the company’s 75 full-time and part-time employees.
TTC made a market for JMD and obtained four offers on the company. Roger Myers, president of the company founded by his father, Jim Myers, said that over the years, he and his father, who died in 2007, had been approached by different companies about selling the business. Walgreen’s offer was the right match at the right time, he said.
As one of the nation’s largest drugstore chains with fiscal 2011 sales of $72 billion, Walgreens vision is to become America’s first choice for health and daily living. The company operates over 7,800 drugstores in all 50 states, the District of Columbia and Puerto Rico.
The Transition Companies LLC, headquartered in Dallas, Texas is a leading Merger and Acquisition ("M&A") firm that specializes in maximizing the enterprise value received by owners when selling their privately-held companies. TTC also provides Business Optimization consulting services for companies that want to increase their performance and earnings in the short-term, while increasing their market value for a future sale. Tracing it roots back to 1988, TTC has offices in Texas, New Jersey, California, Colorado and Ontario, Canada.