Classy Move by McQueary

I wrote about McKesson’s (MCK) acquisition of McQueary Brothers last month in Big Premium in the McKesson–McQueary McDeal. So check out this recent Springfield (MO) Business Journal article in which President David McQueary explains why they sold the company now. There are also some comments from yours truly on the market and historical context.

Mr. McQueary is quite philosophical about the deal, saying:

“It’s not really a celebratory-type situation for us. We’ve been in business for 84 years, and we expected to be in business another 84. It’s kind of a bittersweet thing. It was done with a heavy heart.”

Further demonstrating why these guys will be missed, the owners of McQuery Brothers will be sharing $21 million of the $190 million sale price with long-time employees based on years of service. (See Drug Company Shares in its Sale.) Classy move!