When Canada-based Jean Coutu Group decided that the time was right to expand its drugstore chain in the United States, the company relied on Merrill Lynch's sound judgment and strategic insight. Merrill Lynch not only advised on a bold opportunity, but also structured a multibillion-dollar financing that included bank debt, high yield notes and equity. And, proving that trust is a two-way street, Merrill Lynch, very early in the process, committed its own capital to give The Jean Coutu Group the edge required to help complete the transaction.
The Jean Coutu Group completed a $2.375 billion, three-way deal with J. C. Penney and CVS that tripled the size of its network to over 2,200 stores, becoming the fourth-largest drugstore chain in North America. The transaction drew from the breadth of Merrill Lynch expertise, including investment banking, mergers and acquisitions, global leveraged finance, equity capital markets and rating advisory services. At Merrill Lynch, unparalleled resources and mutual trust are the right prescription for all our client relationships.
