As Talk of the Sound first reported on April 6th, CVS is acquiring Almarc Drugs, according to a statement issued by CVS today.
On and after April 5th sources provided Talk of the Sound with the following information:
Employees speaking on condition of anonymity told Talk of the Sound they were informed yesterday that the company had been acquired by CVS and will be closed in two weeks. The price tag for the sale of the two stores including the buildings is said to be around $24 million. A manager at the Almarc Drugs store in New Rochelle declined to comment.
On that day, two Talk of the Sound contributors visited the location and made inquiries as the pending sale. Store staff and the manager on duty that day declined to answer questions. The manager was asked to pass along the request to the appropriate person. No one from Almarc responded and the story ran the next day.
On April 9th, the following Monday a person identifying themselves as "Alan of Almarc Drugs" threatened litigation against Talk of the Sound for running the story. This person stated, falsely, that Talk of the Sound had not made any effort to confirm the information provided by sources and stated that the story was not true. Asked to explain which part of the story was not true so that correction could be made, if warranted, "Alan" continue to make various legal threats but did ultimately convey that CVS did not own the building in Larchmont and that the price tag for the deal was not $24 million. He declined to provide a correct figure.
Talk of the Sound has been able to confirm independently that the sale to CVS did not include the building and the dollar value of the transaction was significantly lower than initially provided to Talk of the Sound.
The CVS press release follows:
After More Than 30 Years, Almarc Drugs Will Close in Downtown New Rochelle; CVS Buys Out Community Pharmacist
CVS to acquire Almarc’s pharmacy business at Larchmont Drugs on April 19th and at Main St. Apothecary & Surgical Supply in New Rochelle on April 20th
April 17, 2012: Almarc Drugs and CVS/pharmacy announced today that CVS will purchase Almarc’s pharmacy business at its locations in Larchmont and New Rochelle, New York next week. Almarc’s Larchmont Drugs will close at 6:30pm on April 19 and its Main St. Apothecary & Surgical Supply in New Rochelle will close at 6:30pm on April 20.
Almarc Drugs, under the ownership of brothers Alan and Marc Klein, has proudly served the Southern Westchester region for 33 years. “It has been an honor to serve this community and we are extremely appreciative for the loyal patronage of our customers over the past three decades,” said the Kleins. “We feel confident that CVS/pharmacy will make this transition as easy as possible for our loyal customers and employees.”
“Alan and Marc have a well-earned reputation for providing a high level of pharmacy services to the community and we are committed to continuing that same level of service,” said Scott McElfresh, Region Manager of CVS/pharmacy. “We have more than a dozen stores within close proximity to Almarc’s locations and we look forward to helping our new patients on their path to better health.”
Following the store closures in Larchmont and New Rochelle, CVS/pharmacy will transfer Almarc’s pharmacy operations to nearby CVS locations and will begin filling prescriptions for Almarc customers the following day. Larchmont Drugs’ prescriptions will be transferred to the CVS/pharmacy located at 2444 Boston Post Road in the Mamaroneck Shopping Center, less than one mile away. Main St. Apothecary & Surgical Supply’s prescriptions will be transferred to the CVS/pharmacy located at 222 North Avenue, less than a half-mile away. CVS/pharmacy is in the process of interviewing Almarc’s employees from both locations for available positions at many of its nearby locations. CVS will also continue Almarc’s prescription home delivery service.