McKesson to acquire McQueary Brothers for $190 million

SAN FRANCISCO McKesson has signed an agreement to buy McQueary Brothers Drug, in a deal worth approximately $190 million. This acquisition will extend McKesson’s distribution presence in the Midwest, where McQueary is headquartered.

The acquisition is expected to close in the second calendar quarter of 2008, subject to customary closing conditions, including regulatory review. After the closing, McQueary Brothers will be integrated into McKesson’s U.S. Pharmaceutical business, which is reported in the McKesson Distribution Solutions segment.

“The anticipated addition of McQueary Brothers, a private, family-owned company that has been serving independent pharmacy for more than 80 years, reinforces McKesson’s ongoing commitment to the independent segment,” said Paul Julian, McKesson executive vice president and group president. “Based on McKesson’s 175 year history of helping independent pharmacies manage and grow their businesses while improving their delivery of patient care, McQueary Brothers is a natural fit for McKesson.”