The Jean Coutu Group to acquire stake in Le Groupe Medicus
LONGUEUIL, Quebec — The Jean Coutu Group recently announced that it is acquiring a 50% stake in Le Groupe Médicus, which specializes in orthotic and prosthetic devices.
Financial terms of the deal were not disclosed.
Founded in 1957 by Jean-Claude Bleau, Médicus is a private-sector employer of orthotist and prosthetist graduates in Quebec and specializes in orthotic and prosthetic devices and rehabilitation products by completing the multidisciplinary treatment plan.
“The investment in Médicus fits with our development strategy and is an interesting expansion of our core business. Médicus enjoys an excellent reputation and presents a significant growth potential. This corporation is headed by an experienced management team, and we plan to support them in the pursuit of their strategic development plan,” stated François Coutu, president and CEO of the Jean Coutu Group.
Jacinte Bleau, president and CEO of Médicus, stated, “We are aware of the growing needs of an aging customer base in Quebec; and Médicus, in partnership with the Jean Coutu Group, wishes to extend its market share in orthotic and prosthetic devices, as well as in mobility assistance throughout Quebec and eventually North America.”
Following this transaction, Médicus will carry on its operations throughout its network of stores and will maintain an independent management team, the retailer stated
Family Dollar Stores names new SVP food
MATTHEWS, N.C. — Family Dollar Stores last week named Tammy DeBoer as SVP food. DeBoer will report to Paul White, EVP and chief merchandising officer.
"Providing customers with a compelling food assortment is key to driving trips and an important initiative for Family Dollar,” White said. “Tammy’s proven track record in the food industry and her strategic leadership will help drive further enhancements to our assortment and help us increase customer loyalty as we work to continue to expand our market share.”
Since joining Family Dollar in June 2012, DeBoer has led the company’s private-brand efforts with a strong focus on improving quality and expanding the assortment. Prior to joining Family Dollar, DeBoer was VP and general manager for Bloom, one of Delhaize America’s banners. DeBoer holds a bachelor’s degree in technology from Appalachian State University.
"[Last year], Family Dollar expanded its food assortment by 400 SKUs and formed a six-year, exclusive partnership with McLane, which will allow the company to carry a consistent assortment, improve in-stock levels of refrigerated and frozen merchandise, consolidate its wholesaler network and distribute tobacco products," noted Deborah Weinswig, Citi Research analyst.
Hawaii business journal reports Walgreens real-estate new-hire
HAWAII — The Pacific Business News on Friday reported that a prominent real estate executive in the Hawaii region joined Walgreens from CVS Caremark.
According to the report, Rock Tang, former regional director for real estate in Hawaii for CVS Caremark has been named senior real estate manager at Walgreens. Tang will be in charge of developing new stores around Hawaii and in Northern California.