Jean Coutu Group
Encyclopedia
The Jean Coutu Group Inc. is a Canadian
drugstore
chain
headquartered in Longueuil
, Quebec
. It has more than 360 franchised
locations in New Brunswick
, Ontario
and Quebec
under the PJC Jean Coutu, PJC Clinique and PJC Santé Beauté banners. The company was once the second-largest distributor
and retailer of pharmaceuticals and related products in North America
, with nearly 2,200 drug stores. Its American stores have been sold to Rite Aid
.
The company is also known for its private line "Personnelle", which produces a wide variety of products such as cosmetics, papers, and pharmaceutical products.
-based Jean Coutu Group (PJC) USA Inc., operated primarily along the east coast
, under the Brooks Pharmacy
banner in New England
and Eckerd Pharmacy from Upstate New York
and Pennsylvania
south to Georgia
. The U.S. operations were sold off in a deal with Rite Aid. Coutu had purchased Brooks in 1994 from the now-defunct Revco
drug chain. (Revco had acquired Brooks a few months earlier as part of its acquisition of Hook's-SupeRx, Inc
, once a large operator of several pharmacy chains.)
In mid-2004, Coutu acquired more than half of the Eckerd store network (mainly units along the eastern seaboard) from department store retailer J.C. Penney
. It continued to operate those stores under the Eckerd name. (The remainder of Eckerd's stores were sold to CVS/pharmacy.) From 1999 to 2004 the chain was the second-fastest growing retailer in the world. On August 24, 2006 Rite Aid
announced that it would acquire 1,858 Jean Coutu's Eckerd and Brooks U.S. operations for $1.45bn in cash and issuing stock
, giving Jean Coutu a 32% equity stake in Rite Aid. Rite Aid announced the acquisition completed on June 4, 2007.
, as a pharmacy
in the east end of Montreal
.
The company became incorporated in 1973 under the name Services Farmico, enticed by the five branches already set up in Montreal. The name was changed 13 years later to its current name, the Jean Coutu Group (PJC) Inc. and was put on the stock exchange. In 1982 it entered the New Brunswick market and then the Ontario market in 1983. Beginning in 1987, the company began a series of acquisitions that continues. Over the past 20 years, the Jean Coutu Group has acquired Cadieux drugstores, twelve Cloutier Pharmacy outlets, sixteen Douglas Drug Inc. outlets, 221 outlets of the Brooks Drug Store, Rite Aid drugstores, retail properties, eight Mayrand drugstores, 19 Cumberland stores and many more in the United States. The Jean Coutu Group was the first in Canada to set up an online service that allows customers to refill their prescriptions, then a year later expanded this concept in Quebec by having the same system but that could be done over the telephone. Some of the titles this corporation has earned include “Canada’s Most Respected Corporations”, and “The Most Admired Company in Quebec”, which it has won seven times.
With the majority of its franchises in Quebec, it is the province from which it receives most of its revenue, however it has gotten a great deal of profit from the United States. The main competition are Loblaws and Shoppers Drug Mart, Wal-Mart, Familiprix, Brunet and Uniprix.
Since the end of the 1980s, the corporation has merged and acquired much of its competition. It has become one of the leading companies in Quebec and has been growing throughout the other provinces and into the United States because of its successful integration of acquisitions. There are many different trademarks and they are continuously increasing due to these mergers. Jean Coutu is a public company and is listed under PJC.A.TO. on the Toronto Stock Exchange.
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
drugstore
Pharmacy
Pharmacy is the health profession that links the health sciences with the chemical sciences and it is charged with ensuring the safe and effective use of pharmaceutical drugs...
chain
Chain store
Chain stores are retail outlets that share a brand and central management, and usually have standardized business methods and practices. These characteristics also apply to chain restaurants and some service-oriented chain businesses. In retail, dining and many service categories, chain businesses...
headquartered in Longueuil
Longueuil
Longueuil is a city in the province of Quebec, Canada. It is the seat of the Montérégie administrative region and sits on the south shore of the Saint Lawrence River directly across from Montreal. The population as of the Canada 2006 Census totaled 229,330, making it the third largest city in...
, Quebec
Quebec
Quebec or is a province in east-central Canada. It is the only Canadian province with a predominantly French-speaking population and the only one whose sole official language is French at the provincial level....
. It has more than 360 franchised
Franchising
Franchising is the practice of using another firm's successful business model. The word 'franchise' is of anglo-French derivation - from franc- meaning free, and is used both as a noun and as a verb....
locations in New Brunswick
New Brunswick
New Brunswick is one of Canada's three Maritime provinces and is the only province in the federation that is constitutionally bilingual . The provincial capital is Fredericton and Saint John is the most populous city. Greater Moncton is the largest Census Metropolitan Area...
, Ontario
Ontario
Ontario is a province of Canada, located in east-central Canada. It is Canada's most populous province and second largest in total area. It is home to the nation's most populous city, Toronto, and the nation's capital, Ottawa....
and Quebec
Quebec
Quebec or is a province in east-central Canada. It is the only Canadian province with a predominantly French-speaking population and the only one whose sole official language is French at the provincial level....
under the PJC Jean Coutu, PJC Clinique and PJC Santé Beauté banners. The company was once the second-largest distributor
Distributor
A distributor is a device in the ignition system of an internal combustion engine that routes high voltage from the ignition coil to the spark plugs in the correct firing order. The first reliable battery operated ignition was developed by Dayton Engineering Laboratories Co. and introduced in the...
and retailer of pharmaceuticals and related products in North America
North America
North America is a continent wholly within the Northern Hemisphere and almost wholly within the Western Hemisphere. It is also considered a northern subcontinent of the Americas...
, with nearly 2,200 drug stores. Its American stores have been sold to Rite Aid
Rite Aid
Rite Aid is a drugstore chain in the United States and a Fortune 500 company headquartered in East Pennsboro Township, Pennsylvania, near Camp Hill. Rite Aid is the largest drugstore chain on the East Coast and the third largest drugstore chain in the U.S....
.
The company is also known for its private line "Personnelle", which produces a wide variety of products such as cosmetics, papers, and pharmaceutical products.
Jean Coutu Group USA
Coutu's U.S. subsidiary, Warwick, Rhode IslandWarwick, Rhode Island
Warwick is a city in Kent County, Rhode Island, United States. It is the second largest city in the state, with a population of 82,672 at the 2010 census. Its mayor has been Scott Avedisian since 2000...
-based Jean Coutu Group (PJC) USA Inc., operated primarily along the east coast
East Coast of the United States
The East Coast of the United States, also known as the Eastern Seaboard, refers to the easternmost coastal states in the United States, which touch the Atlantic Ocean and stretch up to Canada. The term includes the U.S...
, under the Brooks Pharmacy
Brooks Pharmacy
Brooks Pharmacy was a chain of more than 330 pharmacies located throughout New England and New York and has been a well-recognized name in the New England pharmacy industry for several decades. The corporate headquarters were located in Warwick, Rhode Island...
banner in New England
New England
New England is a region in the northeastern corner of the United States consisting of the six states of Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut...
and Eckerd Pharmacy from Upstate New York
Upstate New York
Upstate New York is the region of the U.S. state of New York that is located north of the core of the New York metropolitan area.-Definition:There is no clear or official boundary between Upstate New York and Downstate New York...
and Pennsylvania
Pennsylvania
The Commonwealth of Pennsylvania is a U.S. state that is located in the Northeastern and Mid-Atlantic regions of the United States. The state borders Delaware and Maryland to the south, West Virginia to the southwest, Ohio to the west, New York and Ontario, Canada, to the north, and New Jersey to...
south to Georgia
Georgia (U.S. state)
Georgia is a state located in the southeastern United States. It was established in 1732, the last of the original Thirteen Colonies. The state is named after King George II of Great Britain. Georgia was the fourth state to ratify the United States Constitution, on January 2, 1788...
. The U.S. operations were sold off in a deal with Rite Aid. Coutu had purchased Brooks in 1994 from the now-defunct Revco
Revco
Revco Discount Drug Stores , once based in Twinsburg, Ohio, was a major drug store chain operating through the Ohio Valley, the Mid-Atlantic states, and the Southeastern United States. The chain's stock was traded on the New York Stock Exchange under the ticker RXR...
drug chain. (Revco had acquired Brooks a few months earlier as part of its acquisition of Hook's-SupeRx, Inc
Hook's Drug Stores
Hook's Drug Stores was an Indianapolis, Indiana-based drug store chain which was founded in 1900 by John A. Hook. The chain flourished throughout central Indiana for most of the 20th-century before being acquired by Revco which was in turn acquired by CVS. Many former Hook's locations are now CVS...
, once a large operator of several pharmacy chains.)
In mid-2004, Coutu acquired more than half of the Eckerd store network (mainly units along the eastern seaboard) from department store retailer J.C. Penney
J.C. Penney
J. C. Penney Company, Inc. is a chain of American mid-range department stores based in Plano, Texas, a suburb north of Dallas. The company operates 1,107 department stores in all 50 U.S. states and Puerto Rico. JCPenney also operates catalog sales merchant offices nationwide in many...
. It continued to operate those stores under the Eckerd name. (The remainder of Eckerd's stores were sold to CVS/pharmacy.) From 1999 to 2004 the chain was the second-fastest growing retailer in the world. On August 24, 2006 Rite Aid
Rite Aid
Rite Aid is a drugstore chain in the United States and a Fortune 500 company headquartered in East Pennsboro Township, Pennsylvania, near Camp Hill. Rite Aid is the largest drugstore chain on the East Coast and the third largest drugstore chain in the U.S....
announced that it would acquire 1,858 Jean Coutu's Eckerd and Brooks U.S. operations for $1.45bn in cash and issuing stock
Stock
The capital stock of a business entity represents the original capital paid into or invested in the business by its founders. It serves as a security for the creditors of a business since it cannot be withdrawn to the detriment of the creditors...
, giving Jean Coutu a 32% equity stake in Rite Aid. Rite Aid announced the acquisition completed on June 4, 2007.
History
The company was co-founded in 1969 by Jean CoutuJean Coutu (pharmacist)
Jean Coutu, is a Canadian pharmacist and businessman. He is the founder and Chairman of the Jean Coutu Group which he started in 1969...
, as a pharmacy
Pharmacy
Pharmacy is the health profession that links the health sciences with the chemical sciences and it is charged with ensuring the safe and effective use of pharmaceutical drugs...
in the east end of Montreal
Montreal
Montreal is a city in Canada. It is the largest city in the province of Quebec, the second-largest city in Canada and the seventh largest in North America...
.
The company became incorporated in 1973 under the name Services Farmico, enticed by the five branches already set up in Montreal. The name was changed 13 years later to its current name, the Jean Coutu Group (PJC) Inc. and was put on the stock exchange. In 1982 it entered the New Brunswick market and then the Ontario market in 1983. Beginning in 1987, the company began a series of acquisitions that continues. Over the past 20 years, the Jean Coutu Group has acquired Cadieux drugstores, twelve Cloutier Pharmacy outlets, sixteen Douglas Drug Inc. outlets, 221 outlets of the Brooks Drug Store, Rite Aid drugstores, retail properties, eight Mayrand drugstores, 19 Cumberland stores and many more in the United States. The Jean Coutu Group was the first in Canada to set up an online service that allows customers to refill their prescriptions, then a year later expanded this concept in Quebec by having the same system but that could be done over the telephone. Some of the titles this corporation has earned include “Canada’s Most Respected Corporations”, and “The Most Admired Company in Quebec”, which it has won seven times.
With the majority of its franchises in Quebec, it is the province from which it receives most of its revenue, however it has gotten a great deal of profit from the United States. The main competition are Loblaws and Shoppers Drug Mart, Wal-Mart, Familiprix, Brunet and Uniprix.
Since the end of the 1980s, the corporation has merged and acquired much of its competition. It has become one of the leading companies in Quebec and has been growing throughout the other provinces and into the United States because of its successful integration of acquisitions. There are many different trademarks and they are continuously increasing due to these mergers. Jean Coutu is a public company and is listed under PJC.A.TO. on the Toronto Stock Exchange.
Main competitors
- Shoppers Drug MartShoppers Drug MartShoppers Drug Mart Corporation is Canada's largest pharmacy chain with more than 1,241 stores operating under the names Shoppers Drug Mart in nine provinces and two territories and Pharmaprix in Quebec as well as in Hawkesbury, Ontario....
(Pharmaprix in Quebec) - FamiliprixFamiliprixFamiliprix is a Canadian group of independent pharmacists.-History:Médico-Prix started in 1977 in Eastern Quebec. It was renamed Familiprix on 17 October 1979. In the mid-1990s, it expanded into Montreal. Today, Familiprix has more than 250 locations in Quebec and New Brunswick...
- UniprixUniprixUniprix is a Quebec pharmacy chain founded in 1977 and based in Saint-Leonard, Montreal . It operates under four brands: Uniprix, Unipharm, Clinique Santé and Uniclinique...
- ProximProxim (pharmacy)Proxim is a Canadian group of pharmacists located in Quebec and to a lesser extent in Ontario and the Maritimes provinces. Proxim competes with Jean Coutu, Pharmaprix/Shoppers Drug Mart, Uniprix, Brunet and Familiprix...
- BrunetBrunet (pharmacy)Brunet is a group of pharmacists in Quebec, Canada.-History:Brunet's slogan, "En santé depuis 150 ans", is a double entendre and it is representative of the group's longevity. Wilfrid-Étienne Brunet founded the first Brunet pharmacy in 1855 in Quebec City, the largest one at the time...