In a grisly takeover move, drugstore operator Duane Reade is snagging the leases of eight Gristedes grocery stores in Manhattan. (We say grisly because, well, have you seen the conditions of those Gristedes aisles?) Crain's has the news of this takeover of one terrible chain by another terrible chain, albeit one that dispenses drugs. Per Crain's, "Oak Hill Capital Partners, which owns a majority stake in Duane Reade, is footing the bill to acquire the leases and convert each Gristedes location into a Duane Reade store. There are 135 Duane Reade locations in Manhattan and a total of about 250 in the city."
· Duane Reade Targets Gristedes for New Stores [Crain's]
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