Jean Coutu Net Worth is$1.95 Billion
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Nationality: Canada
Date of Birth: 1927-05-29
Place of Birth: Montreal
Jean Coutu Net Worth: Jean Coutu is a Canadian pharmacist and entrepreneur who has a net worth of $1.95 billion. Born on May 29, 1927, in Montreal, Canada, Coutu got to the billionaires' list with his pharmaceutical chain of drugstores, the Jean Coutu Group. In 1969, he started the first drugstore, and gradually developed it into a massive pharmaceutical group, which currently holds a network of over 400 franchised drugstores in Canada. Moreover, in 2007, Coutu sold his Eckerd and Brooks brands to Rite Aid, a U.S. drugstore chain, for $3.4 billion, which brought him 20% stake of Rite Aid that made Coutu its major shareholder. In 2012, the group's revenues raised up for almost 5% from the previous year, which brought a profit of $ 2.8 billion. Today, Coutu serves as the Chairman, while his son Francois is the President and CEO of the group. In addition, this 86-year-old pharmacist supported the Quebec Association of pharmacists-owners, and the Foundation Marcelle et Jean Coutu, a charitable foundation committed to fighting poverty.
The Jean Coutu Group (PJC) Inc. is a Canadian drugstore chain headquartered in Longueuil, Quebec. The main distribution warehouse is located in Longueuil, Quebec, however it also has a large distribution warehouse in Hawkesbury, Ontario. While Jean Coutu oversees the Hawkesbury distribution centre, the employees employed there currently work for DB Ontario inc. It has more than 360 franchised locations in New Brunswick, Ontario and Quebec under the PJC Jean Coutu, PJC Clinique and PJC Sant?(C) Beaut?(C) banners. The company was once the second-largest distributor and retailer of pharmaceuticals and related products in North America, with nearly 2,200 drug stores. Its American stores have been sold to Rite Aid.
The company is also known for its private line "Personnelle", which produces a wide variety of products such as cosmetics, papers, and pharmaceutical products.

The company was co-founded in 1969 by Jean Coutu and Louis Michaud, as a pharmacy in the east end of Montreal.
The company became incorporated in 1973 under the name Services Farmico, enticed by the five branches already set up in Montreal. The name was changed 13 years later to its current name, the Jean Coutu Group (PJC) Inc. and was put on the stock exchange. In 1982 it entered the New Brunswick market and then the Ontario market in 1983. Beginning in 1987, the company began a series of acquisitions that continues. Over the past 20 years, the Jean Coutu Group has acquired Cadieux drugstores, twelve Cloutier Pharmacy outlets, sixteen Douglas Drug Inc. outlets, 221 outlets of the Brooks Drug Store, Rite Aid drugstores, retail properties, eight Mayrand drugstores, 19 Cumberland stores and many more in the United States. The Jean Coutu Group was the first in Canada to set up an online service that allows customers to refill their prescriptions, then a year later expanded this concept in Quebec by having the same system but that could be done over the telephone. Some of the titles this co

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Jean Coutu Latest News

5 Canadian Consumer Stocks Rewarding Their Shareholders

Metro completed the acquisition of Jean Coutu in May of 2018. Metro has put a strong emphasis on its private-label brands, which sell for 20% less than original products. In a world where price is ...
Posted: November 27, 2018, 7:54 am

Metro Inc. sales grow in first full quarter with Jean Coutu brand

Metro Inc. saw sales grow more than 15 per cent in its first full quarter since acquiring the Jean Coutu Group pharmacy chain. “The Jean Coutu integration plan is on track,” said CEO Eric La Fleche du...
Posted: November 21, 2018, 4:56 am

Some sunscreens sold in Quebec pharmacies recalled over bacterial contamination

In Personnelle SPF 50+ Sports Sunscreen Lotion — sold by Jean Coutu — are Lactobacillus brevis and Staphylococcus hominis novobiosepticus. People who used one of these products and are concerned for t...
Posted: November 19, 2018, 4:10 pm
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