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SHOPPERS DRUG MART
Shoppers Drug Mart logo
Shoppers Drug Mart Corporation TSX: SC is Canada's largest pharmacy chain with almost 1000 stores operating under the names Shoppers Drug Mart across Canada (outside of Quebec) and Pharmaprix in Quebec.
The SuperPharm chain in Israel, Poland, and China, which was also founded by the Koffler family and uses the same logo and some of the same private-label brands, remains family-owned. [1]
Overview
Shoppers Drug Marts are full-service pharmacies, located in prime locations in every province and two territories, and the chain claims to be the most convenient retail chain in Canada.
Core pharmacy services such as prescription dispensing and patient counselling are operated under the "HealthWatch" sub-brand. Most Shoppers locations also sell over-the-counter medications, health and beauty aids, cosmetics and fragrances – including several high-end "prestige" brands – and other everyday-use general merchandise. The chain's private labels are Life Brand and Quo.
History
At the age of twenty, Murray Koffler inherited two Koffler's Drugs pharmacies in suburban Toronto (one in the Don Mills Centre shopping mall). By 1962, Koffler's had created a chain of 17 pharmacies, which he renamed "Shoppers Drug Mart".
Koffler revamped the concept of the twentieth century “drug store” in Canada by removing the soda fountain and emphasizing the dispensary, requiring his pharmacists to wear starched white coats as a symbol of their professionalism. In the mid-1950s, he began acquiring other drug stores and organized them around a then-novel franchising concept: pharmacist “associates” would own and operate their own stores within the system and share in the profits; among the more notable drug store chains acquired by Shoppers Drug Mart under Koffler was the British Columbia-based Cunningham Drug Stores Ltd., which was absorbed into Shoppers in 1970. When Koffler retired in 1983, he sold the chain to Imasco, formerly Imperial Tobacco, at that time Canada's largest tobacco company.
In 2000, after Imperial Tobacco had been taken over by BAT Industries (formerly British American Tobacco), Shoppers was sold to a consortium of institutional investors including Kohlberg Kravis Roberts & Co. (KKR), Bain Capital, Inc., DLJ Merchant Banking Partners, Charlesbank Capital Partners LLC, Ontario Teachers' Pension Plan, CIBC Capital Partners, and Shoppers Drug Mart's senior management and pharmacist/owners. Since then, the chain has gone public through an initial public offering.
Shortly after the 2000 takeover, Shoppers revamped its brand and created a new concept store with more space, a sleak and modern look, and a stronger focus on higher-margin cosmetic products. Typically the cosmetics section faces the entrance, with the pharmacy counter at the back and a large convenience foods section near the checkout counters. In most suburban areas, this new format takes the form of new or relocated Shoppers Drug Marts, typically stand-alone "big-box" locations as opposed to smaller mall or strip-mall locations.
Financials
Fiscal 2004 system sales: $6.471 billion CAD
Fiscal 2004 EBITDA: $636 million CAD
Drug Store Sales Per Square Foot: $1001 CAD
Number of Shoppers Drug Mart and Pharmaprix stores: 915
Number of Home Health Care stores: 49
Board of directors
- Glenn Murphy, Chairman & Chief Executive Officer, Shoppers Drug Mart Corporation
- Shan Atkins, Managing Director, Chetrum Capital, LLC
- Joshua Bekenstein, Managing Director, Bain Capital Partners, LLC
- Kim Davis, Managing Director, Charlesbank Capital Partners, LLC
- James H. Greene, Jr., Member, Kohlberg Kravis Roberts & Co
- Eva L. Kwok, Chair & Chief Executive Officer, Amara International Investment Corporation
- Dean Metcalf, Vice-President, Teachers' Private Capital, Ontario Teachers' Pension Plan Board
- Paul E. Raether, Member, Kohlberg Kravis Roberts & Co.
- Derek Ridout, Corporate Director
- Leslee J. Thompson, Vice President, Cancer Care Ontario
- David M. Williams, Corporate Director
Management
- Glenn Murphy, Chairman & Chief Executive Officer
- Jürgen Schreiber, President & Chief Operating Officer
- Rennie Bugeja, Executive Vice-President, Retail Development
- Andrew Faas, Executive Vice-President, Corporate Development
- Bryna Goldberg, Executive Vice-President, Legal Affairs, General Counsel & Secretary
- George Halatsis, Executive Vice-President & Chief Financial Officer
- Timothy McAleece, Executive Vice-President, Operations
- Brian Relph, Executive Vice-President, Peers Relations
- John Caplice, Senior Vice-President, Treasurer & Investor Relations
- Virginia Cirocco, Senior Vice-President, Pharmacy
- Terry Landry, Senior Vice-President, Operations, Pharmaprix
- Brad Lukow, Senior Vice-President, Finance
- Joseph Magnacca, Senior Vice-President, Merchandising & Category Management
- Geoffrey Martin, Senior Vice-President, Business Development
- Susanne Priest, Senior Vice-President, Shoppers Health Care Division
- Bobbi Reinholdt, Senior Vice-President & Chief Information Officer
- Susan Shaw, Senior Vice-President, Human Resources & Organizational Development
- Kevin Whibbs, Senior Vice-President, Logistics & Supply Chain
Advertising
- "Everything you Want in a Drugstore" -- 1980s and the early-1990s
- "Take Care of Yourself" -- 2000 to 2002
- "Your Life Store" -- 2002 to Present
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Old Shoppers Drug Mart logo on the signage of a Toronto store.
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See also
External links
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