#1224
Jean Coutu & family
Overview
- Source of Wealth
- Drugstores
- Industry
- Fashion & Retail
- Residence
- Montreal
- Organization
- Chairman at Jean Coutu Group (PJC) Inc. (Cl A)
- Marital Status
- Married
- Children
- 5
Assets
- Jean Coutu Group (PJC) Inc. (Cl A)104,080,000 shares @ --PJC.A-CA
- Metro Inc26,045,000 shares @ --MRU-CA
Biography
The billionaire in the white lab coat, Jean Coutu founded the Canadian drugstore chain that bears his name.
In 2017 Coutu agreed to sell the publicly-traded company to European supermarket giant Metro for $4.5 billion in cash and stock.
Son of a pediatrician, he opened his first pharmacy in 1969, offering low prices, good customer service and extended hours.
Coutu, who was chief executive until 2002 and then again from 2005 to 2007, grew The Jean Coutu Group by acquiring many of his competitors.
The company was once a leading shareholder of U.S. drug store operator Rite Aid but sold the last of its stake in 2013.