NEWSWATCH 1998-12-07

SCOTT'S FOOD STORES, Fort Wayne, Ind., said it has completed its acquisition of Keltsch Pharmacy, also of Fort Wayne, including 11 freestanding units and three pharmacies that are in Scott's stores.

n) a share to roughly $10.45 a share.

J.C. PENNEY CO. Plano, Texas, said it plans to buy Melville, N.Y.-based Genovese Drug Stores for $432 million in stock and assume $60 million in debt.

THE OSHAWA GROUP, Etobicoke, Ontario, said last week it closed the sale of its Atlantic grocery division to Loblaw Companies.

PEAPOD INC., Evanston, Ill., said last week it will begin shipping orders from its first dedicated distribution center, located in Long Island, N.Y.

HOBART CORPORATION, Troy, Ohio, said last week it intends to purchase Baker's Aid, a Syosset, N.Y. manufacturer of baking equipment.