McKesson to Acquire Independent Banner and Franchise Businesses of Katz Group Canada Inc. for C$920M

McKesson Corporation MCK today announced that it has signed a definitive agreement to purchase Drug Trading Company Limited, the independent banner business of Katz Group Canada Inc., and Medicine Shoppe Canada Inc., the franchise business of Katz Group. Katz Group is a privately-owned company that operates an integrated retail pharmacy network in Canada. The acquisition demonstrates McKesson's long-standing commitment to the health of the independent pharmacy segment in the Canadian market. The purchase price is approximately CAD $920 million, which McKesson expects to fund from its available cash.