Last Updated: August 2, 2004 01:23pm ET

Canadian Firm Picks Up 1,549 Drug Stores

By Brian K. Miller

LONGUEUIL, QUEBEC-The Jean Coutu Group Inc., a locally based drugstore chain, closes on its $2.5-billion acquisition of 1,549 Eckerd drugstores and support facilities in the Eastern US from JCPenney Co. Inc., which concurrently closes on the sale of another 1,260 stores to CVS Corp. for $2.1 billion.

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