Kerr Drug
Encyclopedia
Kerr Drug is an American
chain of 76 drug stores throughout North Carolina
. Its headquarters is located in Raleigh, North Carolina
.
The company was founded in Raleigh by Banks Kerr in 1951. The chain was operating 97 stores when it was acquired in 1995 by JCPenney. In 1996, when JCPenney attempted to purchase Eckerd Drug, the FTC
forced JCPenney to divest itself of 34 former Kerr Drug stores and 130 Rite Aid
stores. These stores were ultimately purchased by a group led by former Thrift Drug
executives who left the JCPenney organization following the Eckerd acquisition.http://www.newsobserver.com/104/story/485329.html
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
chain of 76 drug stores throughout North Carolina
North Carolina
North Carolina is a state located in the southeastern United States. The state borders South Carolina and Georgia to the south, Tennessee to the west and Virginia to the north. North Carolina contains 100 counties. Its capital is Raleigh, and its largest city is Charlotte...
. Its headquarters is located in Raleigh, North Carolina
Raleigh, North Carolina
Raleigh is the capital and the second largest city in the state of North Carolina as well as the seat of Wake County. Raleigh is known as the "City of Oaks" for its many oak trees. According to the U.S. Census Bureau, the city's 2010 population was 403,892, over an area of , making Raleigh...
.
The company was founded in Raleigh by Banks Kerr in 1951. The chain was operating 97 stores when it was acquired in 1995 by JCPenney. In 1996, when JCPenney attempted to purchase Eckerd Drug, the FTC
Federal Trade Commission
The Federal Trade Commission is an independent agency of the United States government, established in 1914 by the Federal Trade Commission Act...
forced JCPenney to divest itself of 34 former Kerr Drug stores and 130 Rite Aid
Rite Aid
Rite Aid is a drugstore chain in the United States and a Fortune 500 company headquartered in East Pennsboro Township, Pennsylvania, near Camp Hill. Rite Aid is the largest drugstore chain on the East Coast and the third largest drugstore chain in the U.S....
stores. These stores were ultimately purchased by a group led by former Thrift Drug
Thrift Drug
Thrift Drug was a pharmacy chain based in Pittsburgh, Pennsylvania that was founded in 1937 and purchased by J.C. Penney in 1968, and was expanded greatly thereafter. The chain served as the flagship chain of J.C. Penney's pharmacy group. The chain didn't hide its affiliation with J.C. Penney, as...
executives who left the JCPenney organization following the Eckerd acquisition.http://www.newsobserver.com/104/story/485329.html