Q & A: What’s next for Kellogg’s, Target and CVS pharmacy sales?
A new report shows Kelloggs is poised to sell off the company’s pharmacy business.
Sources close to the transaction say the acquisition of Target will not be a part of the deal, but the transaction is in the works.
The report also says that Kellogg will not close any of its remaining stores.
The acquisition would be the second in two months for Kellog, the third for Target and the first for CVS Pharmacy.
Sources said the deal for Covington, Louisiana-based CVS is expected to close by the end of March.
It’s the first retail-based deal since the company announced it would acquire General Motors in August 2016.
The sale of Kellogg would give CVS a significant foothold in the country’s grocery industry.
It has more than $600 billion in assets and is expected continue its growth in the near future.CVS Pharmacist’s, which is owned by CVS Health, is the largest pharmacy chain in the U.S. It offers a range of health care, health-care related and pharmacy products to nearly 100 million customers.