The Federal Trade Commission is seeking comments from the public on a supplemental application it has received from Thrifty PayLess, Inc. (formerly TCH Corporation) and Green Equity Investors, L.P., in connection with their proposed divestiture of the pharmacy assets in the Thrifty Drugstore in Mt. Shasta, California, to C&K Market, Inc. According to the supplemental application, upon acquiring the pharmacy business, C&K intends to resell the assets to Christopher and Jennifer Richmond. As per the original application, however, the acquired assets still would be operated at the Thrifty store at 120 Morgan Way until improvements can be made at C&K?s retail supermarket at 160 Morgan Way. Comments are due within 10 days, by Dec. 18.
The Richmonds reside in Mt. Shasta. Thrifty PayLess and Green Equity are based in Los Angeles. C&K is based in Brookings, Oregon.
The divestiture is required under an FTC consent order settling charges that TCH Corporation?s acquisition of the PayLess drug-store chain would substantially reduce competition for prescription drugs sold at retail pharmacy outlets in six areas in California, Washington and Oregon. The consent requires several divestitures to restore competition.
The original application regarding the Mt. Shasta divestiture was placed on the public record for comments in August, and the FTC received no comments. Any comments on the supplemental application should be addressed to the FTC, Office of the Secretary, 6th Street and Pennsylvania Avenue, N.W., Washington, D.C. 20580.
Copies of the original and supplemental applications, as well as other documents associated with this case, are available from the FTC's Public Reference Branch, Room 130, 6th Street and Pennsylvania Avenue, N.W., Washington, D.C. 20580; 202-326-2222; TTY for the hearing impaired 202-3262502. To find out the latest FTC news as it is announced, call the FTC's NewsPhone recording at 202-326-2710. FTC news releases and other documents also are available on the Internet at the FTC's World Wide Web site at http://www.ftc.gov
(FTC Docket No. C-3519)