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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). 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]
1977: Eckerd North Carolina is acquired in largest merger in drugstore history; the Eckerd chain now includes 766 units and is the second largest in the country. 1985: Dart Group Corporation launches a hostile takeover of the company.
Aug 27, 2005 · Jack Eckerd sells his last interest in the company. 1989 - Saddled with debt, Eckerd survives as a rare LBO success story, turning its first annual profit since the buyout. 1993 - Eckerd Corp ...
- tisch@tampabay.com
Aug 28, 2005 · The breakup of Eckerd Corp., one of the biggest companies with headquarters in the Tampa Bay area, became reality Sunday when J.C. Penney Co. sold it for $4.5-billion. The deal quietly slipped...
An independent chain for most of its existence, Eckerd was purchased by JCPenney in 1996. Following years of losses and failed attempts to turn around the company, the chain was divided in 2004, with 1,271 of its stores, and its mail-order business, sold to competitor CVS, and the remainder acquired by Jean Coutu Group.
May 14, 2024 · Jul 15, 2007. Pharmacists and shoppers say they see opportunity as Rite Aid takes over the Eckerd drug stores it acquired when it completed its $4 billion takeover earlier this month. That deal ...
May 20, 2004 · May 20, 2004. Correction Appended. Jack Eckerd, a hard-driving businessman who turned three run-down drugstores into an empire that bore his name, died on Wednesday in Clearwater, Fla. He was 91....
