LONGUEUIL, Quebec The Jean Coutu Group on Thursday announced that it had acquired Pro-Doc Ltee, a Quebec-based generic drug manufacturer.
“The acquisition of Pro-Doc fits with our Canadian development strategy and is an interesting expansion of our core business,” stated Francois Coutu, JCG president and chief executive officer. “Pro-Doc has an excellent reputation and represents a significant growth opportunity. This transaction confirms our goals of continuing our growth and creating value for shareholders.”
Financial terms were not disclosed. As a result of this transaction, Pro-Doc will become a wholly-owned subsidiary of The Jean Coutu Group. The company will carry on its operations in Laval, Quebec and maintain an independent management team.