Adams and Reese represented Reeves-Sain Drug Store Inc. of Murfreesboro in a $66 million sales transaction for Memphis-based Fred’s Inc. to buy Reeves-Sain in a deal announced by the two companies on March 25. The transaction was covered by several business publications and also Tennessee publications, Nashville Business Journal, Memphis Business Journal and Nashville Post.
Adams and Reese attorneys working on the deal included Nick DuPuis, Johnny Lyle, Margaret Myers, Russell Harwell, Bob Schmidt, Alex Howard, Tim Gary, Robert McAlhany, Haverly MacArthur, Stephen Lewis and Brian Smithweck.
Rick Sain said in a company press release: “We are proud and excited to move our company in a new direction by joining forces with Fred's. Fred's capabilities, resources and experience in pharmacy, along with the potential reach of its retail pharmacy network, were important factors for us as we considered this transaction. Equally important were our shared values regarding the way we interact with and treat our customers and an aligned sense of dedication to the purpose of helping those suffering from chronic disease states and conditions.”