DALLAS, TX--(Marketwire - Sep 18, 2012) - The Transition Companies LLC is pleased to announce the acquisition of Paradise Enterprises, Inc. d/b/a Town Hill Pharmacy by Rite Aid (
The Transition Companies LLC ("TTC") is pleased to announce the sale of Paradise Enterprises, Inc. d/b/a Town Hill Pharmacy ("Town Hill") to Rite Aid ("Rite Aid"). TTC acted as Town Hill's sole M&A advisor for this transaction, which closed in August 2012.
Brandon Fitzgerald, Director of Transactions Operations, said: "This transaction was atypical and required the guidance of an M&A professional experienced in this industry. But ultimately, the most rewarding aspect of the transaction is seeing the positive impact that we've had in our clients' lives that this deal has brought about."
Town Hill is an independent retail pharmacy in Eastern Kentucky. The owners sought a comfortable transition into retirement, but had much of their net worth tied to the business. Jim White, co-owner of Town Hill, commented, "...let me say how pleased we have been doing business with The Transition Companies, and you Brandon. [You] have gone beyond our expectations in being professional, helpful and above all friendly... A Heartfelt Thanks to you and your staff at The Transition Companies."
The transaction with Rite Aid was a perfect fit for both parties and allowed Rite Aid to gain increased market share in a competitive market, while allowing the owners to make a transition on the right terms for them, their employees and their loyal customers.
Rite Aid Corporation is one of the nation's leading drugstore chains with approximately 4,700 stores in 31 states and the District of Columbia, with a strong presence on both the East and West coasts, and 91,000 associates.
Rite Aid is the largest drugstore chain on the East Coast and the third largest drugstore chain in the U.S. The company is publicly traded on the New York Stock Exchange under the ticker RAD.
The Transition Companies, LLC, is a leading Mergers and Acquisitions ("M&A") firm that specializes in maximizing the enterprise value received by owners when selling their privately-held companies. TTC also provides Business Optimization consulting services for companies that want to improve their performance and earnings in the short-term, while increasing their market value for a future sale. Tracing its roots back to 1988, TTC is headquartered in Dallas, TX, and has offices throughout the United States and Canada.