Minnesota regional to grow store base to 12 locations through acquisition

CRESCO, Minn. - Astrup Drug, headquartered in Austin, Minn., plans to acquire two independents, according to a report published Wednesday in the Cresco Times Plain Dealer. 

The two pharmacies include Hoines Health Mart Pharmacy and Medicap Pharmacy. While the deal has yet to be finalized — the timeline to sell will be in the spring of 2014 — both Hoines and Medicap are looking to sell to a pharmacy operator who will keep the locations in operation.  

Astrup Drug plans to operate under the name of Sterling in Cresco, according to the report.

Astrup Drug is a privately held regional pharmacy chain that was founded in 1952 by Leonard Astrup. The chain currently owns and operates 10 community pharmacies, one telepharmacy and one long-term care pharmacy in southern Minnesota and northern Iowa. They also operate large gift shops in seven of these stores and gas stations at two of the locations.

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