Byline: Sheryl Jean
Mar. 24--Snyder's Drug Stores said Friday that it will purchase Drug Emporium of Powell, Ohio, as part of Drug Emporium's bankruptcy reorganization plan.
The all-stock deal is the latest in a series of acquisitions designed to put the Minnetonka-based drugstore chain on the fast track for growth. Snyder's has added 32 stores in the past 18 months for a total of 81 corporate stores and 100 independently owned affiliates.
Neither Snyder's nor Drug Emporium would disclose a purchase price. However, the figure will become available next week when publicly traded Drug Emporium files its Chapter 11 bankruptcy documents with the Securities and Exchange Commission. Officials of both companies expect the deal to be completed …