Date
May 2019
Region
Pennsylvania
Generational Equity 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.”
If you’re interested in learning more about our history of supporting transactions in this industry, visit our dedicated Healthcare page.
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