Date
Mar 2012
Region
Connecticut
Generational Equity, a leading mergers and acquisitions advisor for privately-held and familyowned businesses, is pleased to announce the acquisition of certain assets of its client, Lang's Pharmacy Inc., headquartered in Weston, Connecticut, by Walgreens Corporation, headquartered in Deerfield, Illinois. The transaction closed on March 13, 2012.
Lang's Pharmacy Inc., is a family owned and operated, full-service, independent pharmacy. Serving the town of New Canaan since 1925, Lang's Pharmacy offers cosmetics, hair and body lines, cosmeticians, gift wrapping and delivery, and pharmaceuticals covered by most insurance companies. Lang's Pharmacy, which served the town since 1925 and was owned by Diana Levison and her family for 35 years. "It was a combination of a business decision and a quality [of] life decision," Levison said. "There are so many people I care about. I've been here over 30 years myself.
It's a family business and I know so many people and their children and now their children's children. I would've done it a couple of years ago, but I wanted to make sure every one of my employees was taken care of in a way that would make them happy." Levison said she's been trying to sell the store since the summer and acknowledged that she attempted to make a deal with an individual, but it fell through. Managing Director's, Doug Smith, George Nova, and Vice President, Michael Goss, led the Generational Equity deal team that advised Lang's Pharmacy on the transaction. George Nova, Generational Equity Managing Director stated, "I found that working with the Walgreen team was smooth and very professional. They did everything they said they would do and remarkably on schedule."
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