J.C. Penney and Thrift Drugs to Divest 161 Drug Stores in North and South Carolina

Summary

J.C. Penney Company, Inc. and its subsidiary Thrift Drugs have agreed to sell 161 drug stores in North and South Carolina to a Commission-approved buyer by March 21, 1997, as part of a settlement with the government over allegations of antitrust violations related to the proposed acquisition of Rite Aid drug stores.