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In the second quarter of 2005, the company recorded a $19.7 million US foreign exchange loss on items related to the Eckerd acquisition. On August 24, 2006, Rite Aid announced that it would acquire 1,858 Jean Coutu's Eckerd and Brooks U.S. operations for $1.45 billion in cash and issuing stock, giving Jean Coutu a 32% equity stake in Rite Aid. [6]
Jean Coutu founded the Marcelle and Jean Coutu Foundation which mainly supports numerous causes such as poverty, women and child abuse, education, and the fight against drug addiction in Canada. [4] It has contributed to multiple organizations, including: Autism research [5] Centraide [6] Fondation Le Pilier [7] Mira [8] Moisson Montréal [4 ...
Cumberland Drugs was a pharmacy chain that operated stores in Quebec (with majority of them in the Montreal area) and Eastern Ontario.Founded in 1967, [1] Cumberland Drugs was sold in 1997 upon the retirement of Morrie Neiss (none of his heirs were interested in carrying on the family business), selling most stores to Jean Coutu, Uniprix and Essaim/Obonsoins (now Proxim).
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Jean Coutu (US stores acquired by Rite Aid in 2004) K&B (Acquired by Rite Aid in 1997) Kerr Drug (acquired by Walgreens in 2013) Lane Drug (purchased by Rite Aid in 1989) LaVerdiere's (purchased by Rite Aid in 1994) Medi Mart (sold to Walgreens in 1980s) Osco Drug (freestanding stores acquired by and converted to CVS in 2006)
Jean Coutu (born 1927), French Canadian founder of the Jean Coutu Group; Jack Eckerd (1913–2004), owner/founder of Eckerd Drugs; David Jack (1924–2011), leader of research that developed major asthma drugs; Murray Koffler (1924–2017), founder of Canadian drug store chain Shoppers Drug Mart; Ernest Mario, American pharmaceutical industry ...
In July 2004, JCPenney sold the Eckerd chain to CVS Corporation and Jean Coutu Group for a total of $4.5 billion (~$6.96 billion in 2023). [10] CVS acquired 1,271 Eckerd stores, and support facilities, in Florida, Texas, and other Southern states, as well as Eckerd's pharmacy benefits management and mail order businesses, for $2.15 billion. [ 10 ]