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Propst is a diversified family office with direct investments in real estate, as well as a variety of operating companies. Founder, William S. Propst, Sr., opened 1,850 Kmart pharmacies in existing Kmart stores around the country. In time, Kmart entered the drug manufacturing business with Qualitest, a generic drug company, which Propst ran. Propst purchased Qualitest and he moved the operations to Huntsville in 1986 and the same year his son, William S. Propst, Jr., joined the company. Over the next 21 years, Qualitest grew to become one of the largest generic drug manufacturers in the country. In 2007, Propst sold Qualitest (in a deal valued at around $900 million), and with the leadership of John Hughey, they launched Propst Properties.
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