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Tue Mar 10, 2020, 12:06 PM

CVS Health acquires 110 Schnuck pharmacies in the Midwest [View all]

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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