American Stores Co. has agreed to acquire all 17 Clark Drugs stores in Los Angeles for $35 million to $39 million.

A spokesman for Salt Lake-based American Stores said the deal involves the transfer of 14 owned properties and three leased properties with the final purchase price subject to valuation of the real estate.No warehouses or other non-store assets are included in the transaction, which is expected to close in February.

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Clark Drugs stores are located throughout the five-county Los Angeles metropolitan area, principally in Los Angeles County. American Stores Co. will operate the stores under the Sav-on drugs trade name. The transaction is subject to regulatory approvals.

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