The Jean Coutu Group (PJC) Inc.
TSX : PJC.A

The Jean Coutu Group (PJC) Inc.

December 20, 2007 10:51 ET

The Jean Coutu Group Acquires Pro-Doc, a Company Based in Laval, Quebec

LONGUEUIL, QUEBEC--(Marketwire - Dec. 20, 2007) - The Jean Coutu Group (PJC) Inc. (the "Company" or the "Jean Coutu Group")(TSX:PJC.A) today announced that it had acquired Pro-Doc Ltée ("Pro-Doc"), a Quebec based generic drug manufacturer with headquarters in Laval QC. Financial terms were not disclosed.

Founded in 1955 by Messrs Germain and Louis Boivin, Pro-Doc has 45 employees and counts amongst its clients Quebec based independent pharmacists as well as distributors of pharmaceutical products.

"The acquisition of Pro-Doc fits with our Canadian development strategy and is an interesting expansion of our core business. Pro-Doc has an excellent reputation and represents a significant growth opportunity. This transaction confirms our goals of continuing our growth and creating value for shareholders," said François J. Coutu, President and Chief Executive Officer of The Jean Coutu Group.

As a result of this transaction, Pro-Doc will become a wholly-owned subsidiary of The Jean Coutu Group. The company will carry on its operations in Laval QC and maintain an independent management team.

About The Jean Coutu Group

The Jean Coutu Group (PJC) Inc. operates a network of 329 franchised drugstores in Canada located in the provinces of Quebec, New Brunswick and Ontario (under the banners of PJC Jean Coutu, PJC Clinique and PJC Santé Beauté) and employs more than 15,500 people. The Jean Coutu Group is one of the most trusted names in Canadian pharmacy retailing. The Company holds a significant interest in Rite Aid Corporation, one of the United States' leading drugstore chains with approximately 5,100 drugstores in 31 states and the District of Columbia.

Contact Information

  • Source:
    The Jean Coutu Group (PJC) Inc
    Andre Belzile
    Senior Vice-President, Finance and Corporate Affairs
    450-646-9760
    or
    Information:
    The Jean Coutu Group (PJC) inc.
    Michael Murray
    Director, Investor Relations
    450-646-9611, ext. 1068
    or
    The Jean Coutu Group (PJC) inc.
    Helene Bisson
    Director, Public Relations
    450-646-9611, ext. 1165