Shoppers Drug Mart
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Shoppers Drug Mart Corporation TSX: [SC]
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 Board, CIBC Capital Partners, and Shoppers Drug Mart's senior management and pharmacist/owners.
Summary of the Business
Shoppers is the licensor of full-service retail drug stores. The Company’s stores are located in prime locations in each province and two territories, making Shoppers stores among the most convenient retail outlets in Canada. Over the past five years, sales of prescription drugs growing at a compound annual growth rate of 11.8%. During fiscal 2004, prescription drugs accounted for approximately 47.7% of Shoppers’ system sales.The Company has successfully leveraged its position in pharmacy and its convenient store locations to capture a significant share of the market in front store merchandise. Front store sales categories include over-the-counter medications (“OTC medications”), health and beauty aids (“HBA”), cosmetics and fragrances (including prestige brands), everyday household needs and seasonal products. Shoppers also offers a broad range of high quality private label products marketed under the Life Brand® and Quo® trademarks, and value-added services such as the HealthWatch® program, which offers patient counselling on medications and disease management.
Financials
Fiscal 2004 system sales: $6.471 billion CADFiscal 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 CorporationShan 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
- 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
Products
Shoppers markets its own products under the "Life Brand" label. Its logo is white lettering in a red oval.Advertising slogans
- "Everything you Want in a Drugstore" -- 1980s and the early-1990s
- "Take Care of Yourself" -- 2000 to 2002
- "Your Life Store" -- 2002 to Present
See also
- List of Canadian pharmacies
- Retail Companies of Canada
External links
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