ST. LOUIS — CVS on Tuesday said it is buying Schnuck Markets' retail and specialty pharmacy businesses. Terms weren't disclosed.
The retailer, through its CVS Pharmacy and other subsidiaries, said it would acquire and operate 99 of the grocer's pharmacies and brand them as CVS Pharmacy locations.
A Schnucks spokesman said 11 of its 110 in-store and specialty pharmacies will close, though he said that list won't be shared until the CVS purchase closes. A statement from CVS said CVS Pharmacy and its subsidiaries would acquire prescription files from those pharmacies and transfer them to nearby CVS Pharmacy locations.
Schnucks said last week it operates 112 stores in Missouri, Illinois, Indiana, Wisconsin and Iowa.
CVS said the buy gives it a "capital-efficient way to expand into key areas."
"We have great admiration for Schnucks and believe CVS Pharmacy can bring additional clinical services to its customers," Jon Roberts, executive vice president and chief operating officer, CVS Health, said in a statement.
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