Business

From Adams to Rite Aid

01:00 AM EDT on Saturday, August 26, 2006

1932: Founded as Adams Drugs, a family company

1984: Pantry Pride, a Florida supermarket chain, acquires Adams.

1985: The Revlon Group merges with Pantry Pride and changes the chain's name to Brooks Drugs

1985: Adams Drugs changes names of its 26 stores to Brooks

1986: Compact Video of Burbank, Calif., purchases Brooks for $95 million

1987: Hook-SupeRx of Cincinnati buys Brooks for $81.5 million

1990: Maxi Drug , a subsidiary of Jean Coutu Group of Montreal, buys Douglas Drug, a 16-store chain, based in North Providence.

1994: Revco Discount Drug Stores buys Hook and Brooks

1994: Jean Coutu Group USA, buys 221 Brooks Drug stores from Revco for $150 million. Revco continues to operate Brooks drugstores in New York and Pennsylvania

1994: Maxi Drug announced plans to buy a former bank warehouse off Jefferson Boulevard in Warwick for $1.3 million and turn it into the pharmacy's headquarters

2001: Brooks acquires 80 stores from Osco Drugs for $240 million

2004: Jean Coutu pays $2.38 billion for 1,539 Eckerd's stores in 13 Northeastern and mid-Atlantic states, 6 distribution centers and Eckerd's office in Clearwater, Fla.

2005: Construction begins on Brooks/Eckerd's new 250,000 square foot corporate headquarters off Division Street in East Greenwich.

2006: Rite Aid offers $3.4 billion for Brooks/Eckerd

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