WASHINGTON — One of Bethesda’s oldest family-owned businesses, Bradley Drugs, is being acquired by pharmacy giant CVS, which will close the local pharmacy Oct. 18.

Bradley Drugs originally opened in 1954, according to Bethesda Magazine, which first reported on the store’s likely closure earlier this month.

CVS confirmed the transaction Tuesday. Financial terms of the acquisition weren’t disclosed.

As part of the transition, the Bradley Drugs store at 6900 Arlington Road will close. Prescription and insurance information from the store will be transferred to a CVS Pharmacy located across the street, at 6917 Arlington Road.

CVS also says patients who receive specialty pharmacy services from Bradley will now be served at CVC Pharmacy Special Services, at 1601 17th St. NW in the District.

CVS says it has extended job offers to some members of Bradley’s specialty pharmacy staff and pharmacy team members.

The CVS announcement included no comments from Bradley owners.

Nanien Posner, co-owner with her husband David, told Bethesda Magazine Oct. 2 that competition was the reason.

“We’re not happy about it,” she told Bethesda Magazine. “We just can’t survive.”