Kerr Drug

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Kerr Drug
Company typeDrug Store
PredecessorKerr Drug
Founded1951
FounderBanks Kerr
Defunct2013
FateMerged with Walgreens
SuccessorWalgreens
Headquarters
Raleigh, NC
,
United States
Number of locations
76
Area served
North Carolina
ProductsPremier
OwnerWalgreens

Kerr Drug was an American chain of drug stores throughout North Carolina. Its headquarters were located in Raleigh, North Carolina. On September 10, 2013, Walgreens announced its purchase of Kerr.[1][2]

Over the years, Kerr built a reputation as an innovative and community-first clinical pharmacy. Kerr often partnered with local physicians and universities, offering clinical services that were prioritized over prescription fulfillment.[3][4][5][6]

History

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The company was founded by Banks Kerr in 1951.[7] Kerr had graduated as valedictorian from the University of North Carolina School of Pharmacy.[8] The chain's first location was at the University Mall in Chapel Hill.[4]

In January 1995, Thrift Drug, owned by JCPenney, acquired the 97-store chain.[9] When JCPenney attempted to purchase Eckerd Drug, the FTC required the divestment of 161 drug stores in North Carolina and South Carolina. New Kerr Drug, a new entity owned by Thrift's former president, acquired the stores.[10][7]

In 2002, UNC-Chapel Hill's School of Pharmacy dedicated the Banks D. Kerr Hall to the drug chain's founder.[11][8]

In May 2009, Kerr Drug sold its 11 stores in the Charleston, South Carolina to CVS in order to focus on its North Carolina market. The sale left Kerr with 90 stores.[12][13] At the same time, Kerr introduced its Naturally Kerr store-within-a-store format that added natural, homeopathic, and organic health care and food products. The format started in Raleigh and Asheville.[14] By August, the concept was successful enough that a third location in Chapel Hill was announced.[15] By the following year, the chain operated three health care centers and 10 clinical hubs.[5]

In 2013, Walgreens purchased all 76 of the remaining Kerr Drug stores and its distribution center for $173 million.[16] Kerr's long-term care pharmacy business was not included in the sale.[17] The new owner closed 20 locations and the converted the remaining to the Walgreens name.[18] Kerr's headquarters in Raleigh were closed in August 2014.[19]

References

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  1. ^ "Walgreens buying Raleigh-based Kerr Drug". WRAL. September 10, 2013. Retrieved September 11, 2013.
  2. ^ "Walgreens furthers reach into North Carolina with acquisition of Kerr Drug". Drug Store News. September 10, 2013. Archived from the original on September 13, 2013. Retrieved September 11, 2013.
  3. ^ "Kerr Drug sees another approach to pharmacy". Chain Drug Review. 2010-11-05. Retrieved 2025-07-21.
  4. ^ a b Frederick, Jim (April 19, 2010). "Bridging the health, convenience gap". Drug Store News. Retrieved 2025-07-21.
  5. ^ a b "Kerr's Chapel Hill store: Simply the best". Chain Drug Review. 2010-08-30. Retrieved 2025-07-21.
  6. ^ Andrews, Michelle (2002-06-16). "MONEY & MEDICINE; Here Are Your Pills. Do You Want the Seminar?". The New York Times. ISSN 0362-4331. Retrieved 2025-07-22.
  7. ^ a b "About Kerr Drug". Archived from the original on January 24, 2009.
  8. ^ a b "Banks Kerr (1922-2000) and Kerr Hall · Names Across the Landscape · Carolina Story: Virtual Museum of University History". museum.unc.edu. Retrieved 2025-07-21.
  9. ^ "COMPANY BRIEFS". The New York Times. 1995-01-12. ISSN 0362-4331. Retrieved 2025-07-21.
  10. ^ "NEW KERR DRUG TO BUY 161 J.C. PENNEY DRUGSTORES". The New York Times. 1997-03-26. ISSN 0362-4331. Retrieved 2025-07-21.
  11. ^ "University Officials Dedicate Two New Buildings". University Officials Dedicate Two New Buildings -. October 14, 2002. Retrieved 2025-07-21.
  12. ^ Alexander, Antoinette. "CVS Caremark snaps up Kerr Drug stores in Charleston". Drug Store News. Retrieved 2025-07-21.
  13. ^ Wise, Warren L. (2009-05-28). "Kerr Drug name to vanish in area". Post and Courier. Retrieved 2025-07-21.
  14. ^ Monks, Richard (May 25, 2009). "Kerr unveils natural format". Chain Drug Review. Archived from the original on November 20, 2010. Retrieved July 21, 2025.
  15. ^ "Shoppers like Naturally Kerr". Chain Drug Review. 2009-08-19. Retrieved 2025-07-21.
  16. ^ "Walgreens to acquire Kerr Drug". Chain Drug Review. 2013-09-10. Retrieved 2025-07-21.
  17. ^ "Walgreens buys Kerr Drug's 76 stores". Drug Topics. 2013-09-10. Retrieved 2025-07-21.
  18. ^ Bracken, David (December 30, 2013). "Walgreen paid $173 million for Kerr Drug". The News & Observer. Retrieved July 21, 2025.
  19. ^ Hoyle, Amanda (October 8, 2013). "Kerr Drug to eliminate 84 jobs after sale to Walgreens". www.bizjournals.com. Retrieved 2025-07-22.
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