McKesson finalizes McQueary Bros. acquisition

Pharmacy product-distributor McQueary Bros., which was locally owned for 84 years, began searching for a buyer last year and sealed a deal with San Francisco-based McKesson on April 8. The McQueary family cited increased consolidation and government regulation in the pharmaceutical sector as reasons for selling.

“We just thought it was going to be tougher for us as an independent to be able to compete,” President David McQueary told Springfield Business Journal earlier this month. “There are pressures all up and down the supply chain from the manufacturer down to retail for cost cutting. Bigger’s the way to be.”

McKesson is No. 18 on the Fortune 500 list and on May 5 reported a 9 percent increase in 2007 revenues that totaled $101.7 billion. The company already had a Springfield operation at Extended Care Solution Group, 1550 E. Republic Road.

McQueary Bros. employs 111 workers at its 66,000-square-foot warehouse at 4727 E. Kearney St. The fate of the facility is not yet decided, according to McKesson spokeswoman Catherine Brew, who said the company would conduct an analysis of its distribution capacity in the region during the next few months.

McQueary Bros. serves about 400 pharmacies in Missouri, Arkansas, Illinois, Kansas, Oklahoma, Nebraska and Iowa. It now is a wholly owned subsidiary of McKesson, according to a news release.[[In-content Ad]]