Longs Drugs
Founded | 1938 |
---|---|
Fate | Acquired by CVS Health in 2008; name retained on stores operating in Hawaii |
Headquarters | Woonsocket, Rhode Island (home of parent company CVS Health) |
Products |
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Longs Drugs is an American chain owned by parent company
Before being acquired by parent company CVS Health in 2008, it was a chain of over 500 stores, located primarily on the West Coast of the United States. Besides Hawaii, it had stores located in California, Nevada, Arizona, Alaska, Colorado, Oregon, Utah and Washington, and was headquartered in Walnut Creek, California.
History
The first store was founded in 1938 as Longs Self-Service Drugs, by brothers
They expanded to Alaska in 1977, Arizona and Oregon in 1978, and Nevada in 1979. By 1982, Longs had 162 stores and exceeded $1 billion (~$2.67 billion in 2023) in sales. to Osco. Their sales passed $2 billion (~$4.12 billion in 2023) for the first time in 1990. In 1993, Longs purchased Bill's Drugs, a 20-store chain located in Northern California, for $23.9 million (~$45.5 million in 2023).
In 1995, Longs formed Integrated Health Concepts, a
In 1998, Longs acquired 20
On September 17, 2001, Longs exercised its option to acquire
In 2003, Bob Long stepped down as Chairman and CEO, marking the first time in the history of Longs Drugs that a member of the founding family was not involved in the company. In 2004 Longs acquired Sacramento, California-based American Diversified Pharmacies (ADP), a mail order pharmacy. On January 1, 2006, RxAmerica began offering Medicare Part D prescription drug plans in all 50 states and the District of Columbia.
In June 2006, Longs purchased 21 retail pharmacies, from Network Pharmaceuticals, Inc. The Network pharmacies are located close to the point of care (such as hospitals, clinics, and medical office buildings), and were much smaller than Long's traditional retail stores. Longs also purchased 4 stores from
By 2008,
Acquisition
On August 12, 2008, Longs Drugs announced that they were being acquired by
Longs in popular culture
Although a
Hawaii expansion
In an effort to combat Walgreens' expansion in Hawaii, CVS began a statewide expansion in 2010, with many new locations within a mile of an existing Longs Drugs.[12] However, CVS closed two 'underperforming' stores in Honolulu in 2019.[13]
References
- ^ "70 years of Longs". San Francisco Chronicle. August 14, 2008.
- ^ "Longs was the last regional chain drugstore". SFGate. Retrieved 2018-04-19.
- ^ "Former Super Longs to close amidst extensive redevelopment plans". The San Francisco Chronicle. March 8, 2011.
- ^ "CVS Caremark Corporation to Acquire Longs Drug Stores Corporation". www.businesswire.com. 2008-08-12. Retrieved 2020-08-27.
- ^ "News - BigCharts.com". Bigcharts.marketwatch.com. Retrieved 8 January 2015.
- ^ Merrick, Amy; Armstrong, David (September 15, 2008). "Walgreen Jumps In With Rival Bid for Longs Drug". The Wall Street Journal.
- ^ "CVS Caremark Successfully Completes Tender Offer for Longs Shares". Businesswire. October 30, 2008. Retrieved October 22, 2019.
- ^ "800 Longs employees to be let go in East Bay". SFGate. Retrieved 8 January 2015.
- ^ History of Longs Drug Stores Archived January 6, 2007, at the Wayback Machine
- ^ Folks You Meet in Longs and other stories by Lee Cataluna Archived November 14, 2006, at the Wayback Machine
- ^ 33rd Season of Plays for and about Hawai`i Archived February 5, 2005, at the Wayback Machine
- ^ Honolulu Star-Advertiser. "Honolulu Star-Advertiser, Hawaii's business leader. - Isles will see 4 more Longs - Hawaii Business - Honolulu Star-Advertiser". Honolulu Star-Advertiser - Hawaii Newspaper. Archived from the original on 2010-07-12. Retrieved 2019-10-19.
- ^ HNN Staff. "CVS closing dozens of stores in US, including 2 in Honolulu". Hawaii News Now. Retrieved 6 May 2019.