M&A Deal Summary

CVS Health Acquires Longs Drug Stores

On August 13, 2008, CVS Health acquired retailer Longs Drug Stores for 2.7B USD

Acquisition Highlights
  • This is CVS Health’s 4th transaction in the Retail sector.
  • This is CVS Health’s 6th largest (disclosed) transaction.
  • This is CVS Health’s 5th transaction in the United States.
  • This is CVS Health’s 1st transaction in California.

M&A Deal Summary
Date 2008-08-13
Target Longs Drug Stores
Sector Retail
Buyer(s) CVS Health
Deal Type Add-on Acquisition
Deal Value 2.7B USD

Target

Longs Drug Stores

Walnut Creek, California, United States
Longs has 521 drugstores in California, Hawaii, Nevada and Arizona and also operates Rx America, a prescription benefits management program that services more than 8 million members.

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Buyer(S) 1

Buyer

CVS Health

Woonsocket, Rhode Island, United States
Category Company
Founded 1996
Sector Healthcare Services
Employees219,000
Revenue 357.8B USD (2023)
DESCRIPTION
CVS Health office in Buffalo Grove, Illinois.
CVS Health office in Buffalo Grove, Illinois.

CVS Health operates retail pharmacies, and walk-in medical clinics, and is a pharmacy benefits manager. The Company enables people, businesses, and communities to manage health in a variety of ways. CVS Health advises patients on medications at CVS/pharmacy locations, helps clients control costs at CVS/caremark, and delivers care through CVS/specialty and CVS/minuteclinic. CVS Health was founded in 1996 and is based in Woonsocket, Rhode Island.

DEAL STATS #
Overall 5 of 18
Sector (Retail) 4 of 7
Type (Add-on Acquisition) 4 of 12
State (California) 1 of 1
Country (United States) 5 of 18
Year (2008) 1 of 1
Size (of disclosed) 6 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-11-02 Caremark Rx

Nashville, Tennessee, United States

Caremark Rx LLC provides healthcare services.

Buy $21.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-31 Universal American - Medicare Prescription Drug Business

White Plains, New York, United States

Universal American Corp. - Medicare Prescription Drug Business is a provider of healthcare services.

Buy $1.3B
Mergr

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