Navarro Discount Pharmacies

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Navarro Discount Pharmacies, Inc.
Private
Founded Havana, Cuba (1940)
Founder José Navarro, Sr
Headquarters Medley, Florida
Number of locations
28 Stores (2008)
Area served
South Florida
Key people
Steve Kaczynski CEO
Products Retail - Pharmacy - Photo
Revenue Increase$350 million
Owner CVS Pharmacy
Number of employees
80,000 (2005)
Divisions Pharmacy Department
Website www.navarro.com

Navarro Discount Pharmacies, Inc., frequently referred to as Navarro is a pharmacy chain, photo service, and pharmacy benefit manager in the United States. The company was acquired by CVS Pharmacy in September, 2014 and is operated as a separate brand and business of CVS, headquartered in Miami, Florida. The company mainly operates in Miami-Dade and Broward Counties and currently has 28 stores. Navarro Discount Pharmacies has a 17% market share in South Florida, ahead of Walgreens and CVS/pharmacy.[1] The company has more than 2,000 employees and annual sales of more than $350 million. Navarro leads the industry in terms of sales per store, sales per square foot, and prescriptions filled per store.[2]

History[edit]

Company history[edit]

In 1940 José Navarro, Sr. founded Navarro Discount Pharmacies in Havana, Cuba. The first store was located on Monte Street and had a large client base including the employees of the Power Company of Cuba. Years later, with the success of the first store, Navarro opened a second store.[citation needed]

After the political change in Cuba in 1961, the government confiscated the Navarro stores, forcing the family to flee to the United States. Upon arriving in Miami, José Navarro, Sr. cashed an insurance policy and used the $4000 to open a pharmacy on S.W. 8th Street and 13th Avenue, in what would become the heart of Miami’s Little Havana.

2007 expansion and Acquisition by CVS[edit]

In 2007, the founding Navarro family ceded control of the company to investment firm MBF Healthcare Partners. In mid-2007 Navarro entered into an agreement to combine its operations with Sedano's Pharmacy. The two formed 31 stores, and operate under the Navarro brand name. As of 2010 there are a total of 28 stores..[citation needed][3] In 2014, the company was acquired by CVS Pharmacy. CVS said it intends to keep the Navarro's name and operate the business separately for now.

References[edit]

  1. ^ "Navarro Discount Pharmacies Company Description". Hoover's, Inc. Retrieved 2008-07-08. 
  2. ^ "Navarro Discount Pharmacies Selects Reflexis Task Management | Business Wire". www.businesswire.com. Retrieved 2016-12-29. 
  3. ^ "Navarro, Sedano to Combine Pharmacies". Nielsen Business Media, Inc. 2007-10-11. Retrieved 2008-07-08. 

External links[edit]

Official website