Perry agrees to divest its 14 A.L. Price units

PONTIAC, Mich. - Intensifying its focus on conventional drug stores, Perry Drug Stores Inc. has agreed to sell its 14 A.L. Price deep-discount H&BA outlets to a former president of F&M Distributors Inc.

Perry chairman and chief executive officer Jack Robinson says the sale to William Edwards was a result of the chain's decision to focus on its core drug and health care operations in Michigan. Terms of the sale have not been disclosed.

Proceeds from the sale will be used to repay debt, open stores, continue with Perry's "Store of the 1990s" renovation program and take advantage of...