Report: Walgreens buys 'underperforming' Kerr Drug store

REIDSVILLE, N.C. Walgreens is purchasing a North Carolina-based store from Kerr Drug, according to local reports.

Financial terms of the deal were not disclosed, but representatives from both companies acknowledged the sale and would confirm the agreement by the end of the week.

The store, located in Reidsville, N.C., sits near another Walgreens store, The Reidsville Review said. The reason behind the sale was slow business, according to Diane Eliezer, marketing director for Kerr Drug, who said the store as an “underperforming property.” According to the local report, the location became a Kerr Drug in 1997 when executives from Thrift Drug purchased 165 Kerr Drug, Rite Aid and Eckerd stores, transforming them all into Kerr locations.