Brooks Pharmacy
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| Pharmacy | |
| Fate | Acquired by Rite Aid |
| Founded | 1932 |
| Defunct | 2007 |
| Headquarters | Warwick, Rhode Island, U.S. |
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Key people
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Mary Sammons, President and CEO |
| Parent | Brooks Eckerd |
Brooks Pharmacy was a chain of more than 330 pharmacies located throughout New England and New York and has been a well-recognized name in the New England pharmacy industry for several decades. The corporate headquarters were located in Warwick, Rhode Island. Brooks was acquired by Rite Aid on June 4, 2007, and the Brooks trade name, long associated with New England drug retailing, was retired.
During its heyday in the late 1990s/early 2000s, Brooks was one of the premier regional drug chains in the United States, and was the second largest drug chain in New England, maintaining an especially strong presence in the states of Vermont, New Hampshire, and Rhode Island. In 2002, Brooks was recipient of the 2002 Rex Awards Regional Chain of the Year.
However, Brooks faced many difficulties between 2004 and 2006, as its parent company struggled unsuccessfully to integrate 1,500 Eckerd stores acquired from J.C. Penney with the existing Brooks network, resulting in a steady loss of market share and lagging same-store sales as CVS and Walgreens continued to expand and solidify their store base in the New England region. In 2007, Brooks Pharmacy officially announced the sale of the pharmacy to Rite-Aid Pharmacy.
Many trace Brooks Pharmacy's roots back to the defunct Pawtucket, Rhode Island based Adams Drug Company, a family owned operation which was founded in 1932 by the Salmanson Family. Adams, at one point, acquired several stores under the Brooks Drug banner in Vermont and New York, and also operated stores under several other different trade names throughout the Northeast.
In 1984, Pantry Pride, a defunct Florida-based supermarket chain acquired the Adams Drug Company, which had then consisted of about 400 stores throughout the Northeast. The following year, all of Pantry Pride's assets including Adams, were acquired by corporate raider Ronald Perelman's Revlon subsidiary. Shortly after the Perelman acquisition, in 1986, all Adams stores were converted over to the Brooks trade name. For a period of time, ownership of Brooks was continually transferred between different Perelman-owned subsidiaries, including California-based Compact Video.
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Wikipedia