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Reade and Write

Drugstore chain Duane Reade to be acquired by capital investment firm

Published

20 years ago

July 28, 2004

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Stockholders of Duane Reade Inc. (New York) voted to approve the proposed acquisition of the company by an affiliate of Oak Hill Capital Partners, L.P., a $1.6 billion private equity fund. The drugstore chain said it expects to close the acquisition on July 30, 2004.

Duane Reade is the largest drug store chain in the metropolitan New York City area, with 247 stores.

Oak Hill Capital was formed in 1998 for the purpose of making control investments in operating companies through acquisitions, build-ups, recapitalizations, restructurings or significant minority positions. The limited partners of Oak Hill Capital Partners include a number of institutional and individual investors.

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