Longs Drugs
Encyclopedia
Longs Drugs is an American
chain of over 40 drug stores throughout the State of Hawaii
. Before being acquired by CVS Caremark
in 2008, it was a chain of over 500 stores, located primarily on the West Coast of the United States
. They had stores located in California
, Hawaii
, Nevada
, Arizona
, Alaska
, Colorado
, Oregon
, and Washington, and was headquartered in Walnut Creek, California
.
, the operator of the national CVS/pharmacy chain of drugstores. CVS bought the 521 Longs locations to expand its presence on the West Coast, primarily in California. The acquisition also included 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 paid a total of US$2.54 billion to acquire all outstanding shares of Longs Drugs, and hopes to save upwards of $100 million in 2009 and $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' 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.
-based company, Longs had maintained stores in Hawaii long enough to become a local establishment. Its first Hawaii
store, in downtown Honolulu, opened March 29, 1954. In 2005, Honolulu Advertiser
columnist Lee Cataluna published a short-story collection, Folks You Meet in Longs, and Other Stories. It is based on Cataluna's eponymous play which premiered August 2003 at Kumu Kahua Theater.
According to the San Francisco Chronicle
, CVS will retain the Longs Drugs name in the Hawaii stores "because of its high name recognition and the geographical separation." Before the merger, CVS had no full-service stores in Northern California
or Hawaii.
Moiliili (relocation of current store)
Pahoa
Upcountry Maui(Pukalani) [open]
Haleiwa
Waimea (Big Island)
Waianae II(Nanakuli)
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
chain of over 40 drug stores throughout the State of Hawaii
Hawaii
Hawaii is the newest of the 50 U.S. states , and is the only U.S. state made up entirely of islands. It is the northernmost island group in Polynesia, occupying most of an archipelago in the central Pacific Ocean, southwest of the continental United States, southeast of Japan, and northeast of...
. Before being acquired by CVS Caremark
CVS Caremark
CVS Caremark Corporation is an integrated pharmacy services provider, combining a United States pharmaceutical services company with a U.S. pharmacy chain...
in 2008, it was a chain of over 500 stores, located primarily on the West Coast of the United States
West Coast of the United States
West Coast or Pacific Coast are terms for the westernmost coastal states of the United States. The term most often refers to the states of California, Oregon, and Washington. Although not part of the contiguous United States, Alaska and Hawaii do border the Pacific Ocean but can't be included in...
. They had stores located in California
California
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
, Hawaii
Hawaii
Hawaii is the newest of the 50 U.S. states , and is the only U.S. state made up entirely of islands. It is the northernmost island group in Polynesia, occupying most of an archipelago in the central Pacific Ocean, southwest of the continental United States, southeast of Japan, and northeast of...
, Nevada
Nevada
Nevada is a state in the western, mountain west, and southwestern regions of the United States. With an area of and a population of about 2.7 million, it is the 7th-largest and 35th-most populous state. Over two-thirds of Nevada's people live in the Las Vegas metropolitan area, which contains its...
, Arizona
Arizona
Arizona ; is a state located in the southwestern region of the United States. It is also part of the western United States and the mountain west. The capital and largest city is Phoenix...
, Alaska
Alaska
Alaska is the largest state in the United States by area. It is situated in the northwest extremity of the North American continent, with Canada to the east, the Arctic Ocean to the north, and the Pacific Ocean to the west and south, with Russia further west across the Bering Strait...
, Colorado
Colorado
Colorado is a U.S. state that encompasses much of the Rocky Mountains as well as the northeastern portion of the Colorado Plateau and the western edge of the Great Plains...
, Oregon
Oregon
Oregon is a state in the Pacific Northwest region of the United States. It is located on the Pacific coast, with Washington to the north, California to the south, Nevada on the southeast and Idaho to the east. The Columbia and Snake rivers delineate much of Oregon's northern and eastern...
, and Washington, and was headquartered in Walnut Creek, California
Walnut Creek, California
Walnut Creek is an incorporated city located east of the city of Oakland. It lies in the East Bay region of the San Francisco Bay Area. While not as large as neighboring Concord, Walnut Creek serves as the business and entertainment hub for the neighboring cities within central Contra Costa...
.
History
The first store owned by the Long family was in Covelo, California.- Longs Stores was founded in 1938 as Longs Self-Service Drugs, by brothers Thomas and Joseph Long (son-in-law of Marion Barton SkaggsMarion Barton SkaggsMarion Barton Skaggs was an American businessman and leading member of the Skaggs Family of retailers who expanded the predecessor of Safeway into a major supermarket chain....
, co-founder of Safeway Inc.Safeway Inc.Safeway Inc. , a Fortune 500 company, is North America's second largest supermarket chain after The Kroger Co., with, as of December 2010, 1,694 stores located throughout the western and central United States and western Canada. It also operates some stores in the Mid-Atlantic region of the Eastern...
), with the opening of their first store on Piedmont AvenuePiedmont Avenue, Oakland, CaliforniaThe Piedmont Avenue neighborhood is a district in North Oakland, California. It is named for Piedmont Avenue, the main commercial street of the district...
in Oakland, CaliforniaOakland, CaliforniaOakland is a major West Coast port city on San Francisco Bay in the U.S. state of California. It is the eighth-largest city in the state with a 2010 population of 390,724...
.
- Longs opens its first store in Hawaii, on March 29, 1954 in Honolulu.
- Longs first store in a shopping center opens in 1955.
- In 1971 Longs reports sales of $169 million from its 54 stores. Shares of the company become listed on the New York Stock Exchange under the ticker symbol LDG.
- Enters the AlaskaAlaskaAlaska is the largest state in the United States by area. It is situated in the northwest extremity of the North American continent, with Canada to the east, the Arctic Ocean to the north, and the Pacific Ocean to the west and south, with Russia further west across the Bering Strait...
market in 1977.
- Enters the ArizonaArizonaArizona ; is a state located in the southwestern region of the United States. It is also part of the western United States and the mountain west. The capital and largest city is Phoenix...
and OregonOregonOregon is a state in the Pacific Northwest region of the United States. It is located on the Pacific coast, with Washington to the north, California to the south, Nevada on the southeast and Idaho to the east. The Columbia and Snake rivers delineate much of Oregon's northern and eastern...
markets in 1978.
- Enters the NevadaNevadaNevada is a state in the western, mountain west, and southwestern regions of the United States. With an area of and a population of about 2.7 million, it is the 7th-largest and 35th-most populous state. Over two-thirds of Nevada's people live in the Las Vegas metropolitan area, which contains its...
market in 1979.
- In 1982 Longs has 162 stores and exceeds $1 billion in sales.
- In June 1987 Longs acquires 11 OscoOsco DrugOsco Drug is a chain of pharmacy stores which today operate as in-store pharmacies under SuperValu Pharmacies. Osco Pharmacy is found in Jewel-Osco, Albertsons, Shaw's and Star Market, while Sav-on Pharmacy is found in Acme and Albertsons. Since 2006, Osco is a wholly owned subsidiary of...
drugstores in CaliforniaCaliforniaCalifornia is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
and one in ColoradoColoradoColorado is a U.S. state that encompasses much of the Rocky Mountains as well as the northeastern portion of the Colorado Plateau and the western edge of the Great Plains...
. They also sell 15 stores in ArizonaArizonaArizona ; is a state located in the southwestern region of the United States. It is also part of the western United States and the mountain west. The capital and largest city is Phoenix...
to Osco.
- Sales surpass $2 billion for the first time in 1990.
- In 1993 Longs purchases Bill's Drugs, a 20-store chain located in Northern California, for $23.9 million.
- In 1995 Longs forms Integrated Health Concepts, a Pharmacy Benefit ManagementPharmacy Benefit ManagementIn the United States, a Pharmacy Benefit Manager is a third party administrator of prescription drug programs. They are primarily responsible for processing and paying prescription drug claims. They also are responsible for developing and maintaining the formulary, contracting with pharmacies,...
company. They also close their 2 stores located in AlaskaAlaskaAlaska is the largest state in the United States by area. It is situated in the northwest extremity of the North American continent, with Canada to the east, the Arctic Ocean to the north, and the Pacific Ocean to the west and south, with Russia further west across the Bering Strait...
.
- In 1997 Longs and American Drug Stores Inc. (subsidiary of Albertson's Inc. at the time) merge their pharmacy benefit management companies to create RxAmerica, with each company retaining 50% ownership.
- In July 1998 Longs acquires 20 Drug EmporiumDrug EmporiumDrug Emporium is the name of a discount drug store corporation, founded in 1977 in Columbus, Ohio, that was sold to several different buyers during 2000 to 2001. Although several store locations continue to use the Drug Emporium name, these locations are no longer affiliated with the now-defunct...
stores from Western Drug Distributors, Inc. 18 of the stores were located in western Washington and two in the Portland, OregonPortland, OregonPortland is a city located in the Pacific Northwest, near the confluence of the Willamette and Columbia rivers in the U.S. state of Oregon. As of the 2010 Census, it had a population of 583,776, making it the 29th most populous city in the United States...
, area.
- Rite AidRite AidRite Aid is a drugstore chain in the United States and a Fortune 500 company headquartered in East Pennsboro Township, Pennsylvania, near Camp Hill. Rite Aid is the largest drugstore chain on the East Coast and the third largest drugstore chain in the U.S....
sells Longs 32 stores located in California for $150 million in October 1999.
- On September 17, 2001, Longs exercised its option to acquire Albertson's interest in RxAmerica and established full ownership of the PBM.
- In 2003 Bob Long steps down as Chairman and CEO, marking the first time in the history of Longs Drugs that a member of the founding family was not involved in the company.
- In 2004 Longs acquires Sacramento, CaliforniaSacramento, CaliforniaSacramento is the capital city of the U.S. state of California and the county seat of Sacramento County. It is located at the confluence of the Sacramento River and the American River in the northern portion of California's expansive Central Valley. With a population of 466,488 at the 2010 census,...
based American Diversified Pharmacies (ADP), a mail order pharmacy.
- On January 1, 2006, RxAmerica begins offering Medicare Part DMedicare Part DMedicare Part D is a federal program to subsidize the costs of prescription drugs for Medicare beneficiaries in the United States. It was enacted as part of the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 and went into effect on January 1, 2006.- Eligibility and...
prescription drug plans in all 50 states and the District of Columbia.
- In June 2006 Longs purchases assets including 21 retail pharmacies, from Network Pharmaceuticals, Inc. The Network pharmacies are located close to the point of care (such as hospitals, clinics, and medical office buildings), and are much smaller than Long's traditional retail stores with an average of approximately 1100 square feet (102.2 m²). Longs also announced an agreement to purchase 4 stores from PharMericaPharMericaPharMerica is a publicly-traded Fortune 1000 company formed in January 2007 from the merger of Kindred Healthcare's pharmacy business with a subsidiary of AmerisourceBergen...
, Inc., a subsidiary of AmerisourceBergen Corporation, that are similar in size.
- In 2007 Longs closes all 23 stores located in Washington, OregonOregonOregon is a state in the Pacific Northwest region of the United States. It is located on the Pacific coast, with Washington to the north, California to the south, Nevada on the southeast and Idaho to the east. The Columbia and Snake rivers delineate much of Oregon's northern and eastern...
, and ColoradoColoradoColorado is a U.S. state that encompasses much of the Rocky Mountains as well as the northeastern portion of the Colorado Plateau and the western edge of the Great Plains...
, citing the limited number of stores and no plans to further develop these markets. They also close 7 stores in CaliforniaCaliforniaCalifornia is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
.
- In 2008, CVS/pharmacy acquires Longs Drugs
- In 2011, CVS plans to close the 90000 sq ft (8,361.3 m²) flagship superstore in Oakland, CA due to property redevelopment plans.
Acquisition
On August 12, 2008 Longs Drugs announced that they were being acquired by CVS CaremarkCVS Caremark
CVS Caremark Corporation is an integrated pharmacy services provider, combining a United States pharmaceutical services company with a U.S. pharmacy chain...
, the operator of the national CVS/pharmacy chain of drugstores. CVS bought the 521 Longs locations to expand its presence on the West Coast, primarily in California. The acquisition also included 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 paid a total of US$2.54 billion to acquire all outstanding shares of Longs Drugs, and hopes to save upwards of $100 million in 2009 and $140–$150 million in 2010 in expenses from synergies attained from the business combination.
On September 12, 2008 the Walgreen
Walgreens
Walgreen Co. , doing business as Walgreens , is the largest drugstore chain in the United States of America. As of August 31st, the company operates 8,210 locations across all 50 states, the District of Columbia and Puerto Rico. Founded in Chicago, Illinois in 1901, and has since expanded...
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' 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.
Longs in popular culture
Although a CaliforniaCalifornia
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
-based company, Longs had maintained stores in Hawaii long enough to become a local establishment. Its first Hawaii
Hawaii
Hawaii is the newest of the 50 U.S. states , and is the only U.S. state made up entirely of islands. It is the northernmost island group in Polynesia, occupying most of an archipelago in the central Pacific Ocean, southwest of the continental United States, southeast of Japan, and northeast of...
store, in downtown Honolulu, opened March 29, 1954. In 2005, Honolulu Advertiser
Honolulu Advertiser
The Honolulu Advertiser was a daily newspaper published in Honolulu, Hawaii. At the time publication ceased on June 6, 2010, it was the largest daily newspaper in the American state of Hawaii. It published daily with special Sunday and Internet editions...
columnist Lee Cataluna published a short-story collection, Folks You Meet in Longs, and Other Stories. It is based on Cataluna's eponymous play which premiered August 2003 at Kumu Kahua Theater.
According to the San Francisco Chronicle
San Francisco Chronicle
thumb|right|upright|The Chronicle Building following the [[1906 San Francisco earthquake|1906 earthquake]] and fireThe San Francisco Chronicle is a newspaper serving primarily the San Francisco Bay Area of the U.S. state of California, but distributed throughout Northern and Central California,...
, CVS will retain the Longs Drugs name in the Hawaii stores "because of its high name recognition and the geographical separation." Before the merger, CVS had no full-service stores in Northern California
Northern California
Northern California is the northern portion of the U.S. state of California. The San Francisco Bay Area , and Sacramento as well as its metropolitan area are the main population centers...
or Hawaii.
Hawaii Expansion
In an effort to combat Walgreens expansion in Hawaii, CVS began a statewide expansion, with many new locations within a mile of an existing Longs Drugs. The following stores have recently, or will open within the next year.- Ewa Beach II [open]
- Pearl City II [open]
Moiliili (relocation of current store)
- Mililani III
Pahoa
Upcountry Maui(Pukalani) [open]
Haleiwa
Waimea (Big Island)
Waianae II(Nanakuli)
- -denotes new location within one mile (1.6 km) of an existing Longs Drugs