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Forbes: Fred's Hires Firm to Sell Retail Pharmacies

  • June 15, 2018

Bruce Japsen, CONTRIBUTOR

Fred's Inc. said on June 14, 2018 that it has hired an investment bank "to analyze the value of (its) retail pharmacy script portfolio" and "engage with potential strategic buyers.

Fred’s Inc. said it has hired investment bankers to examine the value of its ‘retail pharmacy script portfolio’ for potential buyers.

The announcement Thursday by the retailer to hire PJ Solomon comes as Fred’s attempts its latest financial turnaround while reporting first quarter profits fell to $111.6 million compared to $128.6 million last year on weaker sales.

There’s been some speculation CVS Health, Walgreens Boots Alliance and the company that will be created once Rite Aid and Albertsons complete their merger could be interested in some of Fred’s properties. Fred’s has already sold its specialty pharmacy business to CVS for $40 million.

Continue reading this article on Forbes.com.

Click here to read the official company press release from Fred's Inc.