Katz Group of Companies
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Katz Group of Companies operates over 1,800 pharmacies in Canada and the United States. It is based in Edmonton, Alberta. Mr. Daryl Katz is chairman of the Katz Group of Companies.
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[edit] Katz Group Canada
Katz Group Canada operates over 1,800 pharmacies in Canada under several names.
Under its PharmAssist group, it operates:
- Rexall Drug Stores,
- Pharma Plus Drugmarts,
- Medicine Shoppe,
- Drug Trading,
- ProPharm,
- Guardian and
- I.D.A. pharmacies.
It also operates Herbie's for Drug and Food and Payless for Drug and Food combination grocery and pharmacy stores.
The Katz Group owns and operates Canada's only national mail order pharmacy business, Meditrust Healthcare Inc., which provides pharmacy operations to over 15,000 lodge and nursing home beds.
[edit] Pharma Plus
Pharma Plus has its origins in the Tamblyn chain of drugs stores which dates back to the early 1900s in Toronto, was owned by Loblaws grocers in the 1970s. Loblaws was unable to compete effectively with market-leader Shoppers Drug Mart, and sold the chain to the Boots Group, of the United Kingdom. Boots, however, was unable to apply its successful British formula to the Canadian market. Boots was unable to comprehend the geographic issues of Canada and the inventory management scheme of the time "one for show and one for go" crippled the stores by limiting the inventory on shelf.
In 1988 the chain was sold to the Oshawa Group, another retailer who controlled grocery and mass-market stores under the IGA, Food City, Drug City and Towers Department Stores banners. The chain was renamed "Pharma Plus Drugmarts". During the first two years of development, Pharma Plus repositioned itself away from the Boots image and re-invented the stores, being the first in Ontario to introduce patient waiting and consultation areas. Merchandising and advertising became more competitive with the larger Shoppers Drug Mart, offering now both a product and price alternative to the then market leader. Store designs made it easier for consumers to shop the stores and the brighter, less cluttered environment preceded today's accepted standards in retail. Merchandising and design foundations implemented during this time period continue to form the foundation for the evolution of the chain today. The chain grew through acquisitions and merging the Drug City stores under the Pharma Plus banner.
In a further attempt to differentiate the chain, a pilot program was launched for a Health and Wellness centre. These stores eliminated many of the product selections, limiting the consumer offering to higher margin products and focusing on "healthier" selections. While this similar concept can be seen today in California in the Elephant Pharmacy chain, it did not prove successful in the Ontario markets at the time. This costly investment reflected on the bottom line of the operations during the time period as millions was invested in the trial.
Oshawa Group, looking to re-focus their energies divested themselves of the Towers chain and then the Pharma Plus chain of stores. The chain was acquired by Katz Pharmacies, a smaller company who operated under the Rexall banner.
Further acquisitions by Katz allowed the company to evolve into Katz Group of companies which includes in Canada Rexall, Pharma Plus Drugmarts, Drug Trading (Guardian and IDA pharmacies), Meditrust, Herbie's and other discount drug outlets. The company now successfully competes with Shoppers.
Katz Group intends to re-brand all Pharma Plus stores as "Rexall" stores in the coming years.
[edit] Snyder Drug
Snyder Drug is the leading pharmacy in the Twin Cities area in the United States. The company entered Chapter 11 bankruptcy proceedings in 2001 and exited in 2003 as it was forced to liquidate its Drug Emporium chain. The company was founded in 1928 by Max Snyder as a downtown Minneapolis, Minnesota cigar store. It began to sell pharmaceuticals by 1931. It was incorporated as Snyder Drug Store in 1939. The chain has about 60 corporate and about 60 independently-owned stores.
The company sells under the name Snyder Drug Stores and Western Drug.
