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Reports: The Apothecary Shops buys Colorado pharmacy

BY Alaric DeArment

NEW YORK — Specialty pharmacy provider The Apothecary Shops has acquired a Denver-based pharmacy, according to published reports.

The Phoenix Business Journal reported Tuesday that the company had acquired Colorado Pharmacy, making it the company’s 17th.

The newspaper also reported that The Apothecary Shops would would change its name to Avella Specialty Pharmacy and rebrand its stores in August, quoting VP operations Randle House as saying the plan was to bring several company names under one umbrella.


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Tide honors Team USA with flag

BY Allison Cerra

CINCINNATI — As part of its "My Story. Our Flag." project, Tide unveiled a special flag — created in honor of Team USA — in New York’s Bryant Park on Tuesday.

The 117-ft.-by-52-ft. flag, a larger-than-life artistic rendition of the American flag, features nearly 1,500 stories collected from Tide’s Facebook and Twitter followers. Each piece of fabric making up the flag was washed in Tide prior to being sewn together, the brand said.

"Every two years during the Olympic Games, the pride we have for the red, white and blue swells as people celebrate our country’s athletes," said Alex Keith, VP of P&G North American fabric care. "We’re excited to honor Team USA with this beautiful flag created for the ‘My Story. Our Flag.’ project."

As part of the project, Tide has partnered with three Olympic athletes — including distance runner Lopez Lomong, cyclist Sarah Hammer and wrestler Henry Cejudo — and actress and singer Katharine McPhee, all of which have inspiring stories that Tide said are great examples of the rich and diverse stories we all have.

I am so thrilled to be a part of this inspirational flag," Katharine McPhee said. "To see what the red, white and blue mean to Americans across this country truly reminds us why it’s so great to be an American and gets me very excited to root on Team USA during this year’s Olympic Games."

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Consumer packaging company Rexam to sell personal care business

BY Antoinette Alexander

LONDON — Rexam, a global consumer packaging company, is looking to shed its personal care business for $709 million in cash.

The business is being sold in two parts: the cosmetics, toiletries and household care products business, and the High Barrier Food packaging business. An affiliate of Sun Capital Partners, a private equity firm, has made a binding offer for the cosmetics, toiletries and household care products business for $459 million in cash. A subsidiary of Silgan Holdings, a U.S.-based supplier of packaging for consumer goods products, has agreed to acquire the High Barrier Food packaging business for $250 million in cash.

The transactions are expected to complete in third quarter 2012 for HBF and fourth quarter 2012 for CTH, and are conditional on certain regulatory approvals.

In total, the personal care business employs some 7,000 people in Europe, the United States and Asia.

The personal care division is a supplier of packaging solutions, including fragrance pumps, lotion pumps, lipstick packaging and makeup cases. The Rexam personal care division’s customers include such brands as Procter & Gamble, L’Oréal, YSL, LVMH, Unilever and others throughout the Americas, Europe and Asia.

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