C&K to Sell Pharmacies
Supermarket News
Oct. 21, 2013 Elliot Zwiebach
BROOKINGS, Ore. — C&K Market here said Monday it plans to sell its 15 pharmacies as part of an effort to focus on its core supermarket business.
The company said it has buyers tentatively lined up for all 15 stores and expects to have all of them sold by mid-November. The pharmacies operate in southern Oregon and northern California under the names Pharmacy Express, Tiffany’s Drugs and Chetco Pharmacy & Gifts.
Industry observers said the pharmacies account for only a small part of the chain’s estimated $450 million volume.
According to Greg L. Sandeno, president, “In a move to strengthen our operations, we plan to focus exclusively on our core business of operating community grocery stores. We’re known for our friendly service, and we plan to build on that and implement strategies to increase our value proposition.
“We have strong buyers for each of our pharmacies, and that ensures our customers will continue to be served in their communities. We’re confident our customers will find the new owners to be just as responsive and helpful as we’ve been over the years.”
A spokesman told SN the decision to sell the pharmacies came “as part of a larger strategic review that’s been going on for several months.”
AWG representatives could not be reached for comment. AWG was the only bidder in an auction last week.
AWG said in its bid it expected to keep 30 of the stores open and to close the other 13.
Local sources said Friday the new owners will begin taking control of the stores as soon as Monday.
