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Article: Jean Coutu Group plans growth. (completes purchase of 15 Cloutier drug stores)
- Article from:
- Chain Drug Review
- Article date:
- October 9, 1989
- Author:
CopyrightCOPYRIGHT 1989 Racher Press, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Jean Coutu Group plans growth
MONTREAL--With the purchase of 15 Cloutier drug stores completed only the day before, Jean Coutu reviewed the 1989 fiscal year for the Jean Coutu Group and expressed optimism for continued growth at its late September annual meeting.
The purchase of the Cloutier stores, four of which will close or merge with existing Jean Coutu stores, will solidify the Jean Coutu Group's leading 50% market share in the chain drug industry in Quebec (it is the third largest chain in Canada).
The cost of the purchase has not been disclosed, but the stores will bring an estimated additional $40 million in sales to the $850 million ...