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The company previously responsible for operating the Brooks chain, The Jean Coutu Group (PJC) USA, Inc., along with Eckerd Corporation, remained active in-name-only subsidiaries of Rite Aid, as shown in the latter company's October 2023 Chapter 11 bankruptcy filings, despite the conversion of the Brooks and Eckerd chains in 2007 and the sale of ...
On August 23, 2006, The Wall Street Journal announced that Rite Aid would acquire the U.S. subsidiary of Quebec-based Jean Coutu Group, including 1,858 Eckerd Pharmacy and Brooks Pharmacy stores, for US$3.4 billion in cash and issuing stock, which would also give Jean Coutu a 32% equity stake in Rite Aid.
An Eckerd Pharmacy in Rochester, Pennsylvania, pictured shortly before its conversion into a Rite Aid in August 2007. This location closed in October 2023. [13] On August 23, 2006, The Wall Street Journal announced that Rite Aid would acquire 1,858 Eckerd Pharmacy and Brooks Pharmacy stores from Jean Coutu for US$3.4 billion (~$4.94 billion in ...
In June 2007, a 109-year-old retail legacy came to an end. Rite-Aid Corporation completed its acquisition of Eckerd Pharmacy by purchasing Jean Coutu USA for $2.3 billion in cash plus $1 billion ...
In 1985, The Kroger Company outbid Rite Aid, which had attempted a hostile takeover, [1] and acquired the Hook's chain. Kroger divested itself of Hook's and its own SupeRx drugstores a year later, and Hook's became a division of the privately held Hook's-SupeRx. [2] Hook's-SupeRx acquired the New England–based Brooks Pharmacy chain in 1988. [3]
[8] [9] JCPenney merged its drug operations into Eckerd in 1997. [10] Many of the original Fay's Drugs locations that have not been closed in favor of stand-alone Eckerd stores (many now Rite Aid and Walgreens locations) still feature the familiar Fay's aisle and pharmacy formats that served as models for drug chains nationwide.
Additionally, the Detroit Free Press reports that Rite Aid will close all of its stores in Michigan. The chain also closed a distribution center in Pontiac, Michigan, a move that cost 200 workers ...
Rite Aid once had some 2,200 locations in 17 states. The number of stores that are either closed or are about to close amounts to about 10% of the chain's total locations.
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