DALLAS–(BUSINESS WIRE)–Generational
Equity, a leading mergers and acquisitions advisor for privately
held businesses, is pleased to announce the sale of its client, East
Hills Family Pharmacy to Rite Aid. The acquisition closed May 29, 2019
and details were not disclosed.
East
Hills Family Pharmacy is a retail pharmacy located in Johnstown,
Pennsylvania. It provides a wide range of solutions, including brand
name and generic prescription drugs, over-the-counter (OTC) medication,
and other related products. In addition, the Company is a leading area
retailer of nutraceuticals, homeopathic remedies, and pharmaceutical
grade supplements.
Rite
Aid is a national retail pharmacy chain headquartered in Camp Hill,
Pennsylvania. The Company is ranked No. 94 in the 2018 Fortune 500 list
of the largest United States corporations by total revenue. Rite Aid is
the largest drugstore chain on the East Coast and the third largest in
the U.S. East Hills Family Pharmacy was acquired by Rite Aid of
Pennsylvania, a subsidiary of Rite Aid.
Generational Equity Executive Managing Director of M&A – Central Region, Michael
Goss and his team, led by Managing Director, Mergers & Acquisitions Ryan
Johnson, successfully closed the deal. Senior Managing Director Thomas
Hamm established the initial relationship with East Hills Family
Pharmacy.
“It was very important to the owner to find the buyer best able to
provide continued job opportunities to his employee base, as well as
allow him to enjoy retirement and travel at this stage of his life,”
said Johnson. “Both parties saw the great fit, and were very committed
to making the deal happen.”
About Generational Equity
Generational
Equity, Generational
Capital Markets (member FINRA/SIPC), Generational
Wealth Advisors, and DealForce are
part of the Generational
Group, which is headquartered in Dallas and is one of the leading
M&A advisory firms in North America.
With over 250 professionals located throughout North America, the
companies help business owners release the wealth of their business by
providing merger, acquisition, and wealth management services. Their
five-step approach features exit planning education, business valuation,
value enhancement strategies, M&A transactional services, and wealth
management.
The M&A Advisor named the company the 2016, 2017, and 2018 Investment
Banking Firm of the Year. For more information, visit https://www.genequityco.com/ or
the Generational
Equity press room.
Contacts
Carl Doerksen
972-232-1125
[email protected]
