Kerr Drug to be new home for ex-Thrift Drug execs, Rite Aid Carolina drug stores.
This article was originally published in The Rose Sheet
Executive Summary
KERR DRUG WILL BE NEW HOME FOR EX-THRIFT DRUG EXECS following J.C. Penney subsidiary Thrift Drug's sale of 161 North and South Carolina drugstores to a newly established corporation, New Kerr Drug. Investors in New Kerr Drug include a number of former and current Thrift Drug employees, including former President-Stores Anthony Civello. The original Kerr drug store chain was sold to Thrift in 1995. At the time of its sale to Thrift, Kerr had about 100 stores.