Jean Coutu Group Inc., Canada’s second-largest pharmacy chain, plans to use acquisitions
to boost the number of its U.S. stores by about 50 percent in the
next few years, La Presse newspaper reported.
Jean Coutu operates 331 Brooks Pharmacy outlets in the northeastern U.S. The company wants to increase that number to
500, La Presse reported, citing Michel Coutu, who runs the
company’s U.S. operations.
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U.S. stores account for about half of Jean Coutu’s annual
revenue of about C$4 billion ($2.7 billion).
Coutu said he would be interested in buying either regional chains or parts of national chains after this year, La Presse
said. The newspaper didn’t name any potential targets for the
Longueuil, Quebec-based company. Shoppers Drug Mart Corp. is
Canada’s biggest pharmacy chain.
Bloomberg News
