Digvijay and Ridhima's blog

Longs Drugs

April 24th, 2009 | by Ridhima Suri |

One of my favourite stores is Longs Drugs.  Of late I have started noticing ‘CVS’ banners and tags all over the store.  It was a pleasant surprise to know that Longs Drugs had been acquired by CVS.

According to Wikipedia “On August 12, 2008 Longs Drugs announced that they were being acquired by CVS Caremark, the operator of the national CVS/pharmacy chain of drugstores. CVS is buying the 521 Longs locations to expand its presence on the West Coast, primarily in California. The acquisition also includes access to the Hawaii market. CVS made its first major entry into California with its 2006 acquisition of Southern California based Sav-On Drugs. CVS Caremark will pay a total of $2.54 billion to acquire all outstanding shares of Longs Drugs, and hopes to save upwards of $100 million in 2009 & $140-$150 million in 2010 in expenses from synergies attained from the business combination.On September 12, 2008 the Walgreen Co. stepped in with an offer representing a $ 3.50 per share premium over the cash purchase price offered by CVS.However, Walgreens dropped their offer on October 8, allowing CVS’s deal to progress. On October 29, CVS had secured 78.07% of Longs shares, and Longs was merged into CVS the next day on October 30, but the chain will remain open.”

I like shopping at Longs Drugs as it a small, nice store with a wide variety of products  available.  There are some good deals almost always going on and its nice to have a convenient ‘drug store’ in your neighborhood.  The store is not much crowded and the staff is very helpful.  I always find my way around the store unlike in the huge Safeways, Costcos and Walmarts.

I remember telling my husband some time last year that I really like this store and if its possible to invest in Longs Drugs.  If only I had made a compelling story!

I hope the new CVS management does not implement random restructuring.  I like Longs Drugs as it is.  Small. Convenient.  Friendly neighbor.

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Tags: CVS, favourite store, Interesting, longs drugs