Walgreen buys drugstore chain for $438 million

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Walgreen Co. said today that it would pay about $438 million for a 144-store drugstore chain whose locations are mostly in the mid-Southern U.S.

Deerfield-based Walgreen also will acquire a distribution center in Pine Bluff, Ark., and corporate offices in Little Rock, Ark., in the deal with private, family-run Stephen L. LaFrance Holdings Inc. and members of the LaFrance family.

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