Rexall (Canada)
 | |
 A Rexall pharmacy in Ottawa, Ontario | |
| Rexall | |
| Company type | Subsidiary (ULC) |
| Industry | Retail, pharmacy |
| Founded | 1904 |
| Headquarters | Mississauga, Ontario, Canada |
Number of locations | 400 (2022) |
Key people | Nicolas Caprio (President) |
Number of employees | 8,000 (2022) |
| Parent | Katz Group of Companies (1996–2016) McKesson Canada (2016–2024) Birch Hill Equity Partners (2024–present) |
| Website | www |
| Footnotes / references [1] | |
Rexall Pharmacy Group ULC is a chain of retail pharmacies in Canada. Rexall is owned by Birch Hill Equity Partners, a Canadian private equity firm.[2] Founded in 1904, Rexall has approximately 385 pharmacies across Canada with 8,000 employees.[3]
History
[edit]Rexall was founded in 1904 during the early days of the United Drug Company and quickly established itself as a major retail pharmacy chain. At the same time, Tamblyn Drugs was establishing itself in Toronto, Ontario, and would eventually become Pharma Plus. These two companies would later merge to form the Rexall Pharmacy Group.[4]
McKesson Canada purchased Rexall in December 2016 for $3 billion from the Katz Group of Companies.[5] At the time, it was estimated that Rexall had an average annual revenue of approximately $2.0 to $2.5 billion.[6] Around this period, one of the major rival pharmacies in Canada was Shoppers Drug Mart.[7]
In 2018, the president of Rexall at that point, Beth Newlands Campbell, announced that the Pharma Plus brand would be discontinued and all stores would be converted to Rexall in order to create a more consistent look for the chain.[8]
The company was in partnership with Air Miles, which Rexall accepted as a loyalty program. In May 2020, Rexall discontinued its partnership with Air Miles as a loyalty program at its stores and created its own loyalty program called Be Well, with which customers can collect points in order to redeem in-store items, similar to Air Miles.[9]
In January 2024, The Globe and Mail reported that McKesson had begun exploring the possibility of selling Rexall to potential buyers.[10] On September 5, 2024, Birch Hill Equity Partners announced that it has signed a definitive agreement with McKesson Corporation to acquire Rexall Pharmacy Group.[11]
References
[edit]- ^ "About the Company". Rexall. Retrieved 2 February 2018.
- ^ "Birch Hill – Equity Partners". www.birchhillequity.com. Retrieved 2024-09-05.
- ^ "About the Company". www.rexall.ca. Retrieved 2022-08-29.
- ^ "Rexall.ca | Company". www.rexall.ca. Retrieved 2020-09-22.
- ^ "Rexall drug store chain to be sold to McKesson in $3 billion deal". Financial Post. Retrieved 2020-09-22.
- ^ Shaw, Hollie (2016-03-03). "Rexall drug store chain to be sold to McKesson in $3 billion deal". Financial Post. Retrieved 2022-08-29.
- ^ "Rexall takeover shakes up Canada's drugstore industry". Retrieved 2020-09-22.
- ^ Strauss, Marina (2018-05-21). "How Rexall plans to slim down for healthier profit in a competitive market". The Globe and Mail. Retrieved 2022-09-08.
- ^ "Rexall drops Air Miles to launch its own loyalty program". Retrieved 2020-09-22.
- ^ "Rexall pharmacy chain put up for sale as American owner rethinks Canadian footprint, sources say". The Globe and Mail. 2024-01-11. Retrieved 2024-01-14.
- ^ Partners, Birch Hill Equity. "Rexall and Well.ca to be acquired by Birch Hill Equity Partners". www.newswire.ca. Retrieved 2024-09-05.
External links
[edit]
Media related to Rexall (Canada) at Wikimedia Commons- Official website
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