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FRED > SEC Filings for FRED > Form 8-K on 11-Aug-2014All Recent SEC Filings

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Form 8-K for FREDS INC


Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement

On August 6, 2014, Fred's, Inc. (the "Company") entered into a Prime Vendor Agreement (the "Agreement") with Cardinal Health, Inc., one of the nation's largest healthcare services companies. Cardinal Health will serve as Fred's new primary wholesale supplier for branded and generic pharmaceuticals under a multi-year agreement beginning on October 1, 2014. The agreement with Cardinal Health will replace the current Prime Vendor Agreement the Company has with AmerisourceBergen Drug Corporation, which will expire in accordance with the contract on September 30, 2014.

Under the prime vendor agreement, Fred's and Cardinal Health will establish a mutually beneficial strategic alliance designed to support Fred's key initiative of rapid pharmacy growth, and build on a foundation of premier supply chain and asset management tools. The initial term of the Agreement will commence on October 1, 2014 and shall continue through the longer of 1) March 31, 2018 or 2) the date upon which the Company's net aggregate generic purchases reach a certain purchase requirement, provided that date is not before September 30, 2017.

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