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RETAIL NEWS

CVS Health reportedly finds buyer for its Drogaria Onofre Brazilian chain

BY Sandra Levy

Brazil’s largest pharmacy chain Raia Drogasil SA is expected to fully acquire Drogaria Onofre, a rival controlled by CVS Health, according to a Reuters report.

Raia Drogasil said in a statement it had reached an agreement with CCI Foreign, S.à r.l., Beauty Holdings and a unit of CVS to buy the chain with 50 stores in Brazil, the report said.

CVS purchased Drogaria Onofre in 2013.

Onofre had $127.88 million in gross revenue in 2018, the statement said.

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