Inspiration meets innovation at Brandweek, the ultimate marketing experience. Join industry luminaries, rising talent and strategic experts in Phoenix, Arizona this September 23–26 to assess challenges, develop solutions and create new pathways for growth. Register early to save.
NEW YORK JC Penney said Monday that it has agreed to sell its Eckerd drugstore operations for a total of more than $4.5 billion in cash to the Jean Coutu Group and CVS. Closing of the transactions, which are subject to approvals, is anticipated to occur by the end of the fiscal second quarter.
Canadian-based Jean Coutu Group will acquire about 1,540 Eckerd drugstores and support facilities located in 13 Northeast and mid-Atlantic states, as well as the Eckerd home office in Florida, for $2.37
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in