ST LOUIS – CVS announced Tuesday it is taking over the pharmacies at Schnuck Markets across the Midwest.
According to a news release, the national retailer will acquire and operate 99 of the grocer’s 110 pharmacies and brand them as CVS Pharmacy, closing the remaining 11.
The release did not provide which stores will lose pharmacies, however, CVS Pharmacy and its subsidiaries will acquire the prescription files from those Schnucks pharmacies and transfer them to nearby CVS Pharmacy locations, CVS said.
Jon Roberts, executive vice president and chief operating officer, CVS Health believes this new relationship provides CVS Health with a capital-efficient way to expand into key areas.
In 2014, CVS Pharmacy became the first major retail pharmacy to remove tobacco from its shelves. Schnucks stores became tobacco-free on Jan. 1 of this year, a decision the companies say further aligns Schnucks with CVS.
“As Schnucks continues to expand our emphasis on health and wellness, this
collaboration with CVS is an opportunity for us to align with a company that has a
similar focus” said Todd Schnuck, chairman and chief executive officer of Schnucks.
In-store changes will be rolled out over several months after the deal closes, which is expected begin in April and be completed by the end of June. The purchase price and other terms of the agreement weren’t disclosed.
Schnucks currently operates 112 stores in Missouri, Illinois, Indiana, Wisconsin, and Iowa.