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Tue Mar 10, 2020, 12:06 PM

CVS Health acquires 110 Schnuck pharmacies in the Midwest

CVS Health Corp. CVS-1.45% said Tuesday that it will acquire 110 Schnuck Markets Inc. pharmacies across the Midwest. Schnucks was founded in 1939 in St. Louis, and is a family-owned business with 112 stores in Missouri. Illinois, Indiana, Wisconsin and Iowa. CVS Pharmacy will acquire and operate 99 pharmacy locations that will be rebranded.

And CVS Health will acquire the prescription files from 11 Schnuck pharmacies and transfer them to nearby CVS locations. Schnucks has 13,500 employees. CVS says it will post all pharmacist and pharmacy technician jobs and Schnuck employees can apply for them.

CVS eliminated sales of tobacco products in 2014, and Schnucks did so on Jan. 1, 2020. The transaction is expected to close by the end of the second quarter, but no financial details were disclosed. CVS Health stock has gained nearly 16% over the past year while the S&P 500 index SPX+1.01% is up 0.1% for the period.

https://www.marketwatch.com/amp/story/guid/0F09B5DD-B279-47AD-AC60-2EBA1030CA95?

This sucks as those Pharmacy Techs are Members of UFCW Local 655 and now CVS will graciously allow them to apply for their present jobs.

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Reply CVS Health acquires 110 Schnuck pharmacies in the Midwest (Original post)
Sherman A1 Mar 2020 OP
Rebl2 Mar 2020 #1
Sherman A1 Mar 2020 #2

Response to Sherman A1 (Original post)

Tue Mar 10, 2020, 05:40 PM

1. Didn't cvs

take over the pharmacies in Targetís too a couple of years ago?

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Response to Rebl2 (Reply #1)

Tue Mar 10, 2020, 05:42 PM

2. I am fairly certain that they did so

The Target by me, has no pharmacy, so I don't keep track of what they are doing.

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