Compact Video Completes Purchase of Adams Drug

Compact Video completed its acquisition of Adams Drug, a chain of 95 drug stores based in Pawtucket, R.I., from Revlon for $95 million.

The sale amounts to a shuffling of assets among companies owned or partly controlled by New York investor Ronald O. Perelman’s MacAndrews & Forbes Holdings.

The Perelman concern owns 38% of Compact Video, a Burbank video and film-services company. Revlon, the New York cosmetics company, was bought last year by Pantry Pride, a Fort Lauderdale, Fla.-based supermarket chain that Perelman controls.

Compact Video reported that it will operate Adams Drug as a separate unit.