JEAN COUTU BUYS OSCO PHARMACIES
By Adnews Staff
The Jean Coutu Group of Longueuil, PQ, through its American subsidiary Brooks Pharmacy, has acquired 80 Osco pharmacies from food and drug retailer Albertson Inc. of Boise, ID for US$240 million. The Jean Coutu Group operates a chain of 254 franchised locations including 40 PJC pharmacies in Quebec, New Brunswick and Ontario. Brooks Pharmacy of Warwick, RI operates 332 corporate pharmacies in six New England states. The 80 Osco locations to be acquired are in Massachusetts. They will continue to operate under the Osco name for the moment, switching to the Brooks name in the spring, according to the company. The deal is expected to close in January. François Coutu, president and chief operating officer of The Jean Coutu Group, said the acquisition was in line with the group's US development strategy.