Continuously serving Kosciusko County since 1854
After 51 years, a locally-owned downtown business is selling.
Brennan Drugs Inc., which operates two pharmacies in Warsaw, announced plans to sell both stores.
Jim Brennan, president of Brennan Drugs, said the downtown pharmacy on Market Street will be sold to Horizon Pharmacies, of Denison, Texas, while the pharmacy operated out of the Owen's grocery store on Center Street will be sold to the Kroger regional pharmacy division.
Interest in selling began after Kroger bought Owen's grocery chain this spring.
Brennan said Kroger offered Brennan's a short-term lease, but it became clear the grocery chain wanted the pharmacy.
Selling one store and retaining the other didn't make business sense and led the company to look at other buyers.
Horizon is a rapidly growing pharmacy operation that has purchased and operates independent pharmacies in the south, west and midwestern parts of the United States.
Brennan said both companies plan to continue using the Brennan name and have offered jobs to existing employees.
Brennan said he selected the buyers from several bidders, including a large national pharmacy chain. The highest bidders were not selected and an emphasis was placed on the impact on employees and the community.
The Market Street pharmacy has been in existence for more than 100 years. In 1948, Jim Brennan's grandfather, Frank, purchased Watson's Pharmacy. Bob Brennan, Jim's father, took over operations in about 1969, Jim Brennan said.
Jim Brennan took over operation of the store when his father, Bob Brennan, died several years ago.
Jim Brennan said the historical importance of the downtown landmark played a role in deciding how the business would be sold. "That's why I wanted it to remain open," Brennan said.
Sale of the businesses is expected to be finalized by the end of the month, he said.
