RETAILING

Sav-on’s Parent Acquires Clark Drug: American Stores Co., owner of the Sav-on drugstore chain, has reached an agreement to acquire all 17 stores operated by Clark Drugs for between $35 million and $39 million. The transaction involves the sale of 14 owned properties and three leased sites. The final purchase price is subject to the valuation of real estate. Clark operates principally in Los Angeles County but has some stores in other parts of the Southland. American Stores plans to convert the 17 stores to the Sav-on format.