CVS Buy of about 700 Sav-OnOsco Drug Stores Official

WOONSOCKET, R.I. -- CVS Corp. here said Friday that it had completed the acquisition from Albertsons, Inc., of around 700 standalone Sav-On and Osco drug stores, in addition to a distribution center in La Habra, Calif.

"This acquisition strengthens our position in key Midwest markets and provides an immediate leadership position in the fast-growing southern California markets," said CVS chairman, president, and c.e.o. Tom Ryan, in a statement. "Our highly experienced team is already launching our comprehensive integration plan, and we welcome the talented Osco and Sav-On associates into the CVS family. We see significant, long-term strategic and financial benefits from the addition of these stores, and look forward to capitalizing on the many growth opportunities presented by this important acquisition."

CVS currently operates more than 6,100 stores in 42 states and the District of Columbia.
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