New York, NY, United States (4E) – CVS Caremark Corp. said on Monday that it will acquire the assets of Navarro Discount Pharmacy, the nation’s biggest Hispanic-owned retail drugstore chain, although financial terms of the deal were not disclosed.
The deal includes the Miami-based Navarro’s 33 retail pharmacy locations as well as Navarro Health Services, the company’s specialty drugstore serving patients suffering complex or chronic illnesses.
The acquired stores will continue to be under the Navarro Discount Pharmacy brand after completion of the transaction.
Navarro Discount Pharmacy has sales of over $340mn annually, according to CVS. Navarro’s customers are mostly Hispanics and differentiates themselves by selling products and services that are not offered in traditional drugstores, including over-the-counter drugs and vitamins, designer fragrances and wireless phones.