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Walgreens biggest buyer of Shopko pharmacies Toledo Assets Sold To Hy-Vee

While there’s no additional word yet on the promised details of the Hy-Vee purchase of the Shopko Pharmacy assets in Toledo federal Bankruptcy Court documents show Walgreens has purchased a total of 66 Shopko pharmacy location assets at auction. All of the sales of the pharmacy assets purchased by companies received approval in Bankruptcy Court in Nebraska on Jan. 28.

As reported in the Feb. 1 Tama News-Herald, Hy-Vee not only bought Toledo Shopko assets but also pharmacy scripts and inventory at Emmetsburg, Mount Ayr and Forest City as well as a Minnesota and a Nebraska location.

Hy-Vee operates pharmacies in the grocery store and has a stand-alone drug store both located in Marshalltown and a pharmacy in the Grinnell grocery location.

On Jan. 16 Shopko announced it had filed for bankruptcy with voluntary petitions for a court-supervised financial restructuring. At that time, it was also announced 11 Iowa Shopkos and a total of 105 company stores throughout the midwest, south and western states would be closed.

The Toledo store was not among them.

Shopko took over the Toledo location from Pamida in October, 2012. A merger of the two companies was announced in February of that year.

The store was originally opened in 1968 as Gibson’s Discount Store.

Of seven other Shopko pharmacies in Iowa, Walgreens purchased the “scripts” – prescriptions on record- of the Greenfield location and the pharmacy holdings at Missouri Valley.

Voght Pharmacies bought the New Hampton location and the Greenfield inventory, GRX Holdings LLC purchased the Audubon pharmacy assets and Hartig Drug Company bought the Waukon pharmacy assets.

Other chains including Rite Aid, CVS and Albertsons were listed among the buyers.

Shopko pharmacy assets in the states of Missouri, Wisconsin, Illinois, South Dakota, Utah, Washington, Wyoming, Washington, Montana, California and Idaho in addition to Iowa, Minnesota and Nebraska were sold in the auction reporte to have generated a total of $52 million in proceeds.