Lund Gets PrairieStone Assets

MINNEAPOLIS -- PrairieStone Pharmacy here, which operates pharmacies in Lunds, Byerly's and an eq-life store, as well as at Best Buy headquarters, all in Minnesota, and in D&W and Family Fare stores in Michigan, has been acquired by Arcadia Resources, Southfield, Mich. The acquisition agreement requires PrairieStone to sell its remaining in-store pharmacy assets to Lund Food Holdings, Edina, Minn., and to enter into a five- year management agreement with the grocery retailer. Arcadia has acquired all of the membership interests of PrairieStone Pharmacy, LLC, and the purchase price to be paid is up to approximately $24 million. Closing of the acquisition is anticipated to occur by early to mid February.