BERGEN BRUNSWIG TO ACQUIRE PHARMACEUTICAL DISTRIBUTION BUSINESS FROM OWENS & MINOR
BERGEN BRUNSWIG TO ACQUIRE PHARMACEUTICAL
DISTRIBUTION BUSINESS FROM OWENS & MINOR
ORANGE, Calif., Jan. 17 /PRNewswire/ -- Bergen Brunswig Corp. (AMEX: BBC) announced today that Bergen Brunswig Drug Co. has signed an agreement to acquire the net assets and business of the pharmaceutical distribution segment of Owens & Minor Inc. located in Richmond and Norfolk, Va.; and Wilson, N.C.
Robert E. Martini, president and chief executive officer of Bergen Brunswig Corp., said, "This agreement represents excellent strategy for Bergen Brunswig, building upon the tradition of success set by Owens & Minor Inc. and continuing to enhance customer service and operating efficiency. This acquisition will allow us to expand our existing service areas from Virginia into the mid-Atlantic states. Health professionals will benefit from strengthened distribution efficiencies."
The transaction is expected to be completed in February, subject to regulatory and other approvals. It is expected that the proposed acquisition will represent total sales volume of approximately $300 million.
Bergen Brunswig Corp. is one of the nation's largest distributors of prescription pharmaceuticals and other health care products and the largest national distributor of prerecorded video cassettes.
/CONTACT: Neil F. Dimick, VP and CEO of Bergen Brunswig, after 8 a.m. (PST): 714-385-4000, or before 8 a.m. (PST): 714-385-4391/
(BBC) CO: Bergen Brunswig Corp. ST: California IN: HEA SU: TNM TS-AL -- LA007 -- 0854 01/17/92 08:45 EST