M&A Deal Summary

J. C. Penney Company Acquires Eckerd

On November 4, 1996, J. C. Penney Company acquired retailer Eckerd for 2.6B USD

Acquisition Highlights
  • This is J. C. Penney Company’s 1st transaction in the Retail sector.
  • This is J. C. Penney Company’s largest (disclosed) transaction.
  • This is J. C. Penney Company’s 2nd transaction in the United States.
  • This is J. C. Penney Company’s 1st transaction in Florida.
Investment Fate
  • Eckerd was divested to a consortium of strategic buyers in 2004 for 4.5B USD.

M&A Deal Summary
Date 1996-11-04
Target Eckerd
Sector Retail
Buyer(s) J. C. Penney Company
Deal Type Add-on Acquisition
Deal Value 2.6B USD

Target

Eckerd

Largo, Florida, United States
Eckerd is a chain of drug stores based in Largo, Florida. The Company was originally established 1898.

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Buyer(S) 1

Buyer

J. C. Penney Company

Plano, Texas, United States

website

Category Company
Founded 1902
Sector Retail
Employees95,000
Revenue 11.2B USD (2020)
DESCRIPTION
JC Penney's corporate headquarters in Plano, Texas.
JC Penney's corporate headquarters in Plano, Texas.

J. C. Penney Company is a US-based retailer. The Company primarily sells apparel, footwear, home goods, and beauty products. J. C. Penney Company was founded in 1902 and is based in Plano, Texas.

DEAL STATS #
Overall 2 of 3
Sector (Retail) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Florida) 1 of 1
Country (United States) 2 of 3
Year (1996) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1983-04-28 First National Bank of Harrington

Delaware, United States

First National Bank of Harrington is a regional bank serving the Mid-Atlantic US.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-04-06 Eckerd

Largo, Florida, United States

Eckerd is a chain of drug stores based in Largo, Florida. The Company was originally established 1898.

Sell $4.5B
Mergr

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