Financial News

VALLEY FORGE, Pa. — AmerisourceBergen on Thursday announced that it has divested its Canadian pharmaceutical distribution business, AmerisourceBergen Canada Corporation, to Kohl & Frisch Limited, a Canadian-owned national full-line distributor. ABCC represented approximately 2% of AmerisourceBergen’s total revenues.

SUNBURY, Pa. — Weis Markets on Thursday promoted Paul Stombaugh to VP/corporate controller. 

Stombaugh will take on an expanded role in the company’s decision support and its strategic development. He also will continue to oversee its financial accounting and reporting functions, internal controls, treasury and budgets, Weis reported. He will continue to report to Scott Frost, SVP and CFO.

MEMPHIS, Tenn. — The consumer's wallet isn't the only headwind blowing out of a still-struggling economy. Higher operating costs have also helped to undercut Fred's Super Dollar performance in the past year, Fred's CEO Bruce Efird explained to analysts Thursday morning.

AMSTERDAM — Dutch supermarket operator Royal Ahold has completed the sale of its majority stake in a Scandinavian supermarket chain, the company said Wednesday.

Ahold announced that it had completed the sale of its 60% stake in ICA to Swedish firm Hakon Invest for $3.3 billion. The deal was announced Feb. 11.

Based in Sweden, ICA operates the ICA and Rimi chains in Scandinavia and the Baltics.

CARLISLE, Pa. — Martin's Food Markets donated more than $2.2 million in the Richmond and Williamsburg, Va., areas in 2012 as part of its "Living Here, Giving Here" charitable program, the supermarket chain said.

Martin's, part of Ahold USA's Giant-Carlisle chain, said the donations broke a record. The money will go to hunger-relief, animal welfare and poverty relief groups, schools, the United Way, USO of Hampton Roads and Northern Virginia and others.

CAMP HILL, Pa. — Rite Aid is tying in its fundraising efforts for Children's Miracle Network Hospitals with an upcoming children's movie.

The retail pharmacy chain announced it would kick off its 19th annual campaign for the group tied in with "Epic," the 20th Century Fox Films movie that will be in theaters starting May 24. The animated movie tells the story of a teenage girl who is magically shrunk to meet a group of warriors who protect the natural world.

GRAND RAPIDS, Mich. — Meijer will fund local food pantries by doubling every customer's $10 donation next month, the mass-merchandise retailer said.

As part of the spring "Simply Give" campaign, the company will double donations made April 12-13 to restock shelves of pantries that were depleted during the holidays. Meijer said customers have donated nearly $5 million — equal to 30 million meals — since November 2008.

ROCHESTER, N.Y. — Bausch + Lomb on Friday announced that it has filed a registration statement with the U.S. Securities and Exchange Commission to take the company public. The number of shares to be offered and the price range for the proposed offering have not yet been determined, the company stated. 

The proposed IPO could raise as much as $1.5 billion and is expected to value Bausch & Lomb at about $9 billion to $10 billion, Reuters reported earlier in March.