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Drug Fair Group Appoints New CFO


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© Business Wire 2008
2008-09-30 02:22:02 -

- Drug Fair Group, Inc., Somerset Vanessa Fitzpatrick, Director of Human Resources, 732-748-8900 x 7136 Drug Fair Group, Inc. ("Drug Fair"), the 22nd largest drug store chain in the United States, today announced the appointment of Kathleen Guinnessey as its Chief Financial Officer. Ms. Guinnessey has spent over 15 years in senior financial leadership roles having recently served as Senior Vice President and CFO of Levitz Furniture Company and before that as Vice President and Treasurer of Footstar and Lechters. In addition, she has lead Treasury functions with Dun & Bradstreet, GAF Corporation, and Maxwell Macmillan Group. Ms. Guinnessey received a Masters of Business Administration degree in Finance from Fordham University and a Bachelors of Arts from Rutgers University. She

will be responsible for leading the Finance and IT departments at Drug Fair and will report to Timothy R. LaBeau, President and CEO.

Commenting on the appointment, Timothy R. LaBeau, President and CEO of Drug Fair, said, "We are delighted to have Kathy Guinnessey join our organization. Her experience in the retail sector coupled with her dynamic leadership skills will play a key role as we expand our footprint within the New Jersey region."

Karen Guinnessey, the newly-appointed Chief Financial Officer of Drug Fair, added, "I am delighted to be joining Drug Fair and look forward to working with our management team and Sun Capital in expanding Drug Fair's position as a value-added provider of pharmacies and general merchandise to our loyal customer base."

Drug Fair is an affiliated portfolio company of Sun Capital Partners, Inc., a leading private investment firm specializing in leveraged buyouts and investments in market-leading companies.

About Drug Fair Group, Inc.

Drug Fair, operates 59 pharmacies and general merchandise stores in northern and central New Jersey. Founded in 1954, the Company has two divisions: Drug Fair and Cost Cutters. The Drug Fair division includes 46 stores which sell both pharmaceuticals and general merchandise and the Cost Cutters division totals 13 larger format stores that offer value-oriented, general merchandise. For more information, please visit www.drugfair.com or www.costcuttersonline.com.

About Sun Capital Partners, Inc.

Sun Capital Partners, Inc. ("Sun Capital") is a leading private investment firm focused on leveraged buyouts, equity, debt, and other investments in market-leading companies that can benefit from its in-house operating professionals and experience. Sun Capital affiliates have invested in and managed more than 200 companies worldwide with combined sales in excess of $40.0 billion since Sun Capital's inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles, and New York, as well as affiliates with offices in London, Paris, Frankfort, Tokyo, Shanghai, and Shenzhen. For more information, please visit www.SunCapPart.com.

Kathleen Guinnessey, a 15-Year Retail Veteran


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Hossam Abdel-Kader
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