Los Altos Pharmacy, Inc. acquired by Safeway, Inc. (NYSE: SWY)
Effective August 20, 2012 – Northern Edge is pleased to announce the acquisition of Los Altos Pharmacy, Inc., an independent, family owned and operated, full-service, integrative health-care pharmacy, by Safeway, Inc. (NYSE: SWY).
The transaction was led by Andrew Wood with the support of Christy Helm from the Fort Worth office. Northern Edge served as the exclusive advisor to Los Altos Pharmacy, Inc. Haynes and Boone, LLP was appointed by Los Altos Pharmacy, Inc. to serve as their legal counsel and tax advisors. The Haynes and Boone, LLP team included Partner, Bart Greenberg, Partner, Brandon Jones, and Associate, Ariel Zell.
Bart Nelson, President and CEO of Los Altos Pharmacy, Inc. engaged Northern Edge in search of a strategic or financial partner to leverage the company’s existing compounding strength, long standing reputation and deep industry relationships to accelerate its growth. Northern Edge provided strong relationships with buyers due to its extensive experience selling pharmacies. Los Altos marks the second company Safeway, Inc. has acquired where Northern Edge served as the sell-side advisor in the last two years.
“The goal is to take compounding to the next level and we are excited to be working with Safeway on this project,” stated Bart Nelson, President of Los Altos Pharmacy, Inc.
Andrew Wood, Northern Edge Deal Leader states, “The acquisition gave Bart a structured exit and secured future employment for his daughters within the Sales team in Safeway, Inc.” Daughters of Bart Nelson have long standing key relationships with the pharmacists.
Los Altos Pharmacy, Inc. specializes in sterile and non-sterile drug compounding, commercial prescriptions, and over-the-counter prescriptions to customers in Santa Clara County, California. Free seminars and consultations are offered for those seeking guidance on Bio-identical Hormone Replacements. Los Altos is an active member of the Professional Compounding Centers of America (PCCA).
About Los Altos Pharmacy, Inc.
Founded in 1934, Los Altos Pharmacy operates two full-service retail pharmacies based in Santa Clara County, CA. Los Altos is a second generation family business, integrative health-care pharmacy. The company provides compounding, commercial prescriptions, and over-the-counter prescriptions. For additional information about Los Altos Pharmacy, please visit www.losaltospharmacy.com.
About Safeway, Inc.
Safeway Inc. (NYSE: SWY) is one of the largest food and drug retailers in North America with annualized sales of approximately $32 billion. The company operated 1,680 stores in the Western, Southwestern, Rocky Mountain, and Mid-Atlantic regions of the United States and in western Canada. In support of its stores, Safeway has an extensive network of distribution, manufacturing and food processing facilities. For more information about Safeway, please visit www.safeway.com.
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