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...The developer of one five-star bunker complex in Texas, John Eckerd, received a prison sentence last year for money laundering connected to a Colombian drug cartel....
...of the Brooks and Eckerd stores from Canada’s Jean Coutu in 2006....
...The retailer has been struggling to assimilate a $2.5bn cash and stock acquisition of 1,800 Brooks and Eckerd drugstores in 2006 that has also left it heavily leveraged....
...It follows CVS’s successful assimilation of 700 Savon drugstores, which it acquired in 2006 during the break up of Albertsons, the grocer, and of 1,200 Eckerd drug stores in 2004....
...CVS also significantly expanded its presence in the drug benefit business with its $21bn purchase of Caremark, one of the leading prescription benefit management companies that bulk buys discounted drugs...
...By contrast, Rite Aid, which is trying to integrate ageing rival Eckerd while also reviving its struggling core brand, has swallowed too many pills at once....
...In 2002 it launched “Reclaiming Futures” to improve outcomes for drug-involved youth in the juvenile justice system....
...Rite Aid is to pay $1.45bn in cash and $1.18bn in shares for 1,858 Brooks and Eckerd drug stores located mainly on the US east coast, expanding its total store network to more than 5,000....
...president of Johnson & Johnson, say they ignored the advice of venture capitalists who told them to take a gradualist approach, and have now signed three initial deals with RiteAid, Albertson’s and Brooks Eckerd...
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