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Stock Market & Financial Investment News

News For FRED From The Last 14 Days
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March 26, 2015
07:50 EDTFREDFred's sees Q1 EPS 0c-3c, consensus 26c
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07:48 EDTFREDFred's sees FY15 EPS 50c-58c, consensus 61c
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07:47 EDTFREDFred's reports Q4 EPS 2c ex-items, consensus 1c
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March 25, 2015
19:06 EDTFREDFred's names Bryan Pugh Chief Merchandising and Marketing Officer
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10:04 EDTFREDFred's to acquire Reeves-Sain Drug Store and EntrustRx specialty pharmacy
Fred's announced that it has signed an agreement to acquire Reeves-Sain Drug Store, a private specialty and retail pharmacy company based in the greater Nashville, Tennessee area. The acquisition includes both EntrustRx, a specialty pharmacy operation that has a strong regional presence in the Southeast serviced from facilities in Spring Hill, Tennessee and Columbus, Mississippi, as well as the single Reeves-Sain retail pharmacy in Murfreesboro, Tennessee. Under the terms of the agreement, Fred's will acquire EntrustRx and the Reeves-Sain retail pharmacy for approximately $66M, comprising $53M in cash and a $13M note payable. Fred's expects to utilize available cash and borrowings under its revolving loan and credit agreement to fund the transaction, which is expected to close in April 2015 subject to customary closing conditions. Fred's anticipates that the deal will be accretive to earnings per share in the first full year following closing.

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