CVS Caremark to Buy Navarro Discount Pharmacy

By Dow Jones Business News, 
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CVS Caremark Corp. ( CVS ) has reached an agreement to buy Navarro Discount Pharmacy, the nation's largest Hispanic- owned drugstore chain.

Financial terms weren't disclosed.

The deal, which CVS hailed as a step toward strengthening its position in the fast-growing Hispanic marketplace, includes Navarro's 33 retail pharmacies and Navarro Health Services, a specialty pharmacy serving patients. The pharmacies will remain under the Navarro Discount Pharmacy brand.

Navarro Discount Pharmacy has more than $340 million in sales a year, CVS said.

Write to Maria Armental at maria.armental@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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