MIAMI Navarro Discount Pharmacies, one of the largest Hispanic-owned drug store chains in the United States, has entered into a merger agreement with Sedano's Pharmacy & Discount Store in south Florida for an undisclosed amount.
“Sedano’s Pharmacy has been a strong competitor and will be an outstanding partner,” said Gabriel Navarro, chief executive officer of Navarro, which is owned by MBF Healthcare Partners. “The acquisition of Sedano’s Pharmacy significantly expands Navarro’s presence in the South Florida market and the locations of the pharmacies are a strong complement to our existing footprint."
The 11 Sedano's Pharmacy stores will operate under the Navarro banner. The combined company will have 32 stores and estimated annual revenues of more than $350 million.