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Walgreens Plans to Buy N.J.'s Drug Fair, Close 11 Stores

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Walgreen Co. plans to acquire the Somerset-based Drug Fair company, closing at least 11 of the stores and putting the Walgreen's name on others, according to a memo distributed to Drug Fair employees this morning.

Speculation about a possible acquisition had intensified during the past two days after two Drug Fair stores were closed abruptly last weekend.

On Tuesday, 47 people were fired at the company's corporate offices and pharmacists were notified at stores that Walgreens intends to close. Drug Fair stores in Raritan and Rockaway were closed last weekend.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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