CVS Buys Schnucks Pharmacies, Plan To Re-Brand
CVS will be buying 110 Schnucks pharmacies. It will acquire 99 stores and close eleven.
According to a news release from Schnucks, through this agreement, CVS Pharmacy and its subsidiaries will acquire and operate 99 of the grocer’s pharmacies and will brand them as CVS Pharmacy. Additionally, CVS Pharmacy and its subsidiaries will acquire the prescription files from 11 Schnucks pharmacies and transfer them to nearby CVS Pharmacy locations.
“We have great admiration for Schnucks and believe CVS Pharmacy can bring additional clinical services to its customers. One of CVS Health’s strategic imperatives is to Be Local. By opening CVS Pharmacy locations within Schnucks stores, we’re increasing access to high quality care and meeting customers where they are. Schnucks is a best-in class grocer and we’re honored to partner with them to bring our best-in-class pharmacy capabilities to their customers,” said Jon Roberts, executive vice president and chief operating officer, CVS Health.
In 2014, CVS Pharmacy became the first and only major retail pharmacy to remove tobacco from its shelves. Schnucks stores became tobacco free as of January 1, 2020. Schnucks’ decision to exit tobacco further aligns the company with CVS Health.
Todd Schnuck, chairman and chief executive officer of Schnucks:
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. This partnership allows us to continue to provide quality pharmacy services to our customers in a manner they’ve come to expect, while supporting our mission to nourish people’s lives. It also provides our pharmacy teammates an opportunity to further their careers with a premier retail pharmacy chain.
To provide continuity for Schnucks pharmacy customers, CVS Pharmacy will post all pharmacist and pharmacy technician positions, and will interview all Schnucks employees who apply. In-store changes will be rolled out over a period of several months after the completion of the transaction as CVS Pharmacy and Schnucks work to ensure the smoothest possible transition for all pharmacy patients.