Deals
McKesson Buys Canada's Rexall Drugstores for $2.23 Billion
- Rexall has about 470 pharmacies, is strong in Western Canada
- Deal will add modestly to McKesson earnings in fiscal 2017
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McKesson Corp. agreed to acquire Rexall Health, Canada’s No. 2 drugstore chain, from its private owner for C$3 billion ($2.23 billion), as the U.S. distributor of medical products expands its presence in Canada.
Rexall operates about 470 retail pharmacies, and McKesson said it will maintain the brand in Canada. The acquisition of Rexall from Katz Group is being funded by cash and debt, San Francisco-based McKesson said in a statement on Wednesday.