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Jean Coutu Group

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Jean Coutu Group Inc.
TypeSubsidiary
TSX: PJC.A:APH
IndustryRetail
Founded1969; 57 years ago (1969)
Headquarters
Varennes, Quebec
,
Canada
Key people
Jean Coutu
ProductsPharmacy
RevenueIncrease $2977.9 million (2017)[1]
Number of employees
20 000 (2016)[2]
ParentMetro Inc.
(2018–present)
Websitewww.jeancoutu.com
The headquarters of Jean Coutu Group in Varennes, Quebec.
A Jean Coutu pharmacy in Shediac, New Brunswick.

The Jean Coutu Group (PJC) Inc. is a Canadian pharmacy chain based in Varennes, Quebec. The company operates over 400 franchised locations across Quebec, Ontario, and New Brunswick under the banners PJC Jean Coutu, PJC Clinique, and PJC Santé. At its peak, it was the third-largest distributor and retailer of pharmaceuticals and related products in North America, managing nearly 2,200 drugstores.

The company formerly operated in the United States through its subsidiary, The Jean Coutu Group (PJC) USA, Inc., under the Brooks Pharmacy and Eckerd Drugs brands. These U.S. operations were sold to Rite Aid in 2007. Although the subsidiary remains legally active under Rite Aid, all its stores have since been rebranded.

The company is known for its private label "Personnelle", which includes products such as cosmetics, paper goods, and pharmaceutical items. Since 2016, the company's main distribution warehouse is based in Varennes, Quebec, taking over from its previous facility in Longueuil, which was used from 1976 to 2015. The company also oversees a warehouse in Hawkesbury, Ontario, which has been operating since 2005.[a][citation needed]

History

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The company was founded in 1969 by Jean Coutu and Louis Michaud as a pharmacy in the east end of Montreal under the name Pharm-Escomptes Jean Coutu.[3]

The company was incorporated in 1973 under the name Services Farmico, at which point it had set up five branches in Montreal. It entered the New Brunswick market in 1982 and the Ontario market in 1983. In 1986, the company changed its name to the Jean Coutu Group (PJC) Inc., and became a publicly listed company.[3] The company uses the listing PJC.A.TO. on the Toronto Stock Exchange.

From 1987, the company completed a series of acquisitions of pharmacies under various brands, including Cadieux, Cloutier Pharmacy, Douglas Drug Inc., Brooks Drug Store, Rite Aid Mayrand, and Cumberland.

In 1999, the company was the first in Canada to offer an online service allowing customers to refill their prescriptions. In 2000, they began offering a similar service over the telephone.[3]

The company has earned titles including "Canada's Most Respected Corporations", and "The Most Admired Company in Quebec", winning the latter seven times.[citation needed]

The company generates most of its revenue in Quebec, where the majority of its franchises are located, however they also generate revenue in the United States as well.[citation needed] The company's competitors include Loblaws, Shoppers Drug Mart, Wal-Mart, Familiprix, Brunet, and Uniprix.

In May 2013, Jean Coutu announced that it would move its head office from Longueuil to Varennes, as the Longeuil office was too small. The new office, and an adjacent distribution centre, opened between 2015 and 2016.[3]

In September 2017, Jean Coutu announced it was in talks to be acquired by Metro Inc., a Canadian supermarket chain, for approximately C$4.50bn.[4] The deal closed in May 2018.[5]

Jean Coutu Group USA

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The Jean Coutu Group (PJC) USA, Inc.
TypeSubsidiary (until 2007)
In-name-only (2007–present)
IndustryRetail
Defunct2007; 19 years ago (2007) (operations)
FateDivested to Rite Aid in 2007; still remains active as an in-name-only subsidiary
SuccessorRite Aid
HeadquartersPhiladelphia, Pennsylvania, U.S.
ParentJean Coutu Group (until 2007)
Rite Aid (2007–present)

Jean Coutu Group (PJC) USA, Inc. was Jean Coutu's U.S. subsidiary, based in Warwick, Rhode Island. It operated primarily along the east coast, under the Brooks Pharmacy banner in New England and as Eckerd Pharmacy from Upstate New York and Pennsylvania south to Georgia.

Jean Coutu 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.

In mid-2004, Jean Coutu acquired more than half of the Eckerd store network, mainly consisting of units along the eastern seaboard, from department store retailer J.C. Penney. The company continued to operate those stores under the Eckerd name.

From 1999 to 2004 the chain was the second fastest-growing retailer in the world. In the second quarter of 2005, the company recorded a $19.7 million US foreign exchange loss on items related to the Eckerd acquisition.

On August 24, 2006, Rite Aid announced that it would acquire Jean Coutu's U.S. operations for $1.45 billion in cash and issuing stock, giving Jean Coutu a 32% equity stake in Rite Aid.[6] Rite Aid announced the acquisition completed on June 4, 2007.[7] After the transaction, the pharmacies were rebranded as Rite Aids, but the Jean Coutu subsidiary remained active as an in-name only subsidiary of Rite Aid Corporation.

In July 2013, Jean Coutu sold the last of its shares in Rite Aid, since which the company no longer holds any shares in Rite Aid.

In 2023, Rite Aid filed for Chapter 11 bankruptcy.[8] Despite Jean Coutu being separated from Rite Aid 10 years prior, Jean Coutu was still listed in the filing.[9]

On May 5, 2025, Rite Aid filed for Chapter 11 bankruptcy again, listing assets and liabilities between $1 billion and $10 billion. Rite Aid intended to sell assets as part of its bankruptcy, including Jean Coutu USA.[10]

Controversies

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In August 2022, a Quebec pharmacist refused to sell a customer emergency contraceptive pills because it went against his religious beliefs.[11]

Main competitors

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Notes

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  1. ↑ While Jean Coutu oversees the Hawkesbury distribution centre, the employees employed there currently work for DB Ontario inc.

References

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  1. ↑ THE JEAN COUTU GROUP – FOURTH QUARTER AND FISCAL YEAR 2017 RESULTS Archived 2022-01-10 at the Wayback Machine Retrieved 5 June 2020.
  2. ↑ "Company Profile for Jean Coutu Group Inc (CA;PJC.A)". Archived from the original on 2016-08-11. Retrieved 2016-07-06.
  3. 1 2 3 4 "History | Jean Coutu". www.jeancoutu.com. Archived from the original on 2024-02-21. Retrieved 2024-03-20.
  4. ↑ "Metro Inc in talks to buy Jean Coutu for C$4.50 bln". Reuters. September 27, 2017. Archived from the original on 2017-09-28. Retrieved 2017-09-27.
  5. ↑ "Jean Coutu price was high but will pay long term dividends, says Metro CEO - Canadian Business - Your Source For Business News". Canadian Business - Your Source For Business News. 2018-05-14. Archived from the original on 2018-05-21. Retrieved 2018-05-20.
  6. ↑ Maynard, Mike (24 August 2006). "Rite Aid confirms deal to acquire Eckerd and Brooks chains". MarketWatch. Archived from the original on 2017-09-28. Retrieved 2017-09-27.
  7. ↑ "Rite Aid Completes Acquisition Of 1,854 Brooks and Eckerd Stores". Rite Aid. Archived from the original on 7 January 2008.
  8. ↑ "Rite Aid files for bankruptcy". CNN. October 15, 2023. Archived from the original on October 16, 2023. Retrieved October 16, 2023.
  9. ↑ "The Jean Coutu Group (PJC) USA, Inc. Files For Bankruptcy". BKData. October 15, 2023. Archived from the original on March 20, 2024. Retrieved October 16, 2023.
  10. ↑ Knauth, Dietrich (May 5, 2025). "Rite Aid files for second bankruptcy in two years". Reuters. Retrieved May 5, 2025.
  11. ↑ "Quebec woman speaks out after pharmacist denies her morning-after pill due to his religious beliefs". CBC News. 5 August 2022. Archived from the original on 25 September 2023. Retrieved 20 March 2024.
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