MISSISSAUGA, Ontario — Katz Group Canada has agreed to sell its Drug Trading Co. and Medicine Shoppe Canada to McKesson Corp. for $920 million (Canadian).

Katz Group Canada has agreed to sell its Drug Trading Co. and Medicine Shoppe Canada to McKesson Corp. for $920 million (Canadian).

The deal will see McKesson acquire all of the assets of Drug Trading and the shares of Medicine Shoppe Canada. In addition, McKesson has agreed to buy a joint ownership interest in ProPharm’s pharmacy software application, which is used by the independent pharmacists who operate Drug Trading and Medicine Shoppe stores.

Drug Trading provides purchasing, merchandising and other value-added services to some 850 independent pharmacists under the Guardian and I.D.A. banners, while Medicine Shoppe Canada performs the same functions for its 160 ­franchisees.

Plans call for Katz to continue to supply Drug Trading’s Guardian and I.D.A. banners and Medicine Shoppe Canada franchisees with Rexall branded over-the-counter and health and beauty products.

The deal is expected to close by the middle of the year.