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L&R buying SAJ distributors from Walgreen

NEW YORK (AP) -- L&R Distributors Inc. said Wednesday that it is acquiring SAJ Distributors and a private-label product line from Walgreen Co. for an undisclosed sum.

Walgreen acquired SAJ earlier this year when it bought the USA Drug drugstore chain from Stephen L. LaFrance Holdings Inc.

L&R, based in New York, said the deal will add another 1,000 distribution points to business. The company is a national distributor of cosmetics and other products to supermarket, drugstore and other retailers.

The privately held company said it will continue to operate the SAJ distribution center and offices at their location in Pine Bluff, Ark. It will keep the SAJ name and retain many of its staff. L&R said it plans to introduce new items and programs to the SAJ division.

The deal also includes the private-label Select Brand line.

Shares in Walgreen, which is based in Deerfield, Ill., rose 29 cents to $33.32.