We represented Fred’s, Inc. (Nasdaq: FRED) in its sale of the assets of EntrustRx, a specialty pharmacy unit, to CVS Health Corporation for $40 million and the subsequent closing of the pharmacy operations. This transaction was an important step in Fred’s plans to monetize non-core assets as part of its broader turnaround efforts.

Fred’s, Inc., headquartered in Memphis, Tennessee, operates approximately 600 general merchandise and pharmacy stores, including 12 franchised locations.