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MIAMI — Navarro Discount Pharmacies announced that its wholesale and export subsidiary, Magellan Distribution Solutions, has acquired the assets of Buxco Inc. and will be providing fulfillment solution services for the network of 150 independently owned retail pharmacies.
"Growing our wholesale and export business through Magellan is part of Navarro's three-year expansion plan," stated Steve Kaczynski, CEO of Navarro Discount Pharmacies, which operates 28 stores in the Miami area.
Acting as distributors for Navarro's signature products, including cosmetics, fragrances and appliances, Magellan's focus is to identify new business opportunities with local retailers and help them grow their sales, lower cost of goods and reduce expenses.
Magellan provides more than 30,000 SKUs and signature categories, including cosmetics, fragrances, OTC/HBC, general merchandise, appliances and hair care, for independent retailers located in Miami-Dade and Broward counties, as well as in the Caribbean and Latin America.
Magellan is a new wholesale operation from Navarro that launched in January. This acquisition is the company's first activity, the company said. Kevin Shiplett, who joined Navarro in October 2010 as the retailer's SVP wholesale and business development, is leading Magellan's efforts. Shiplett's focus is to identify new business opportunities with local retailers to act as distributors for Navarro’s signature products.
"As a wholesaler, Magellan will leverage its knowledge in the health-and-wellness supply chain by creating Hispanic and emerging markets category offerings not currently provided by local suppliers," Shiplett said.