Longs Drugs

The first store was founded in 1938 as Longs Self-Service Drugs, by brothers Thomas and Joseph Long (son-in-law of Marion Barton Skaggs, co-founder of Safeway Inc.), when they opened their first store on Piedmont Avenue in Oakland, California. The first Longs in Hawaii opened on March 29, 1954, in Honolulu. By 1971, Longs reported sales of $169 million (~${{Format price|{{Inflation|index=US-GDP|value=169000000|start_year=1971}}}} in {{Inflation/year|US-GDP}}) from its 54 stores. They were incorporated during the same year.{{Cite news|title=70 years of Longs|date=August 14, 2008|work=San Francisco Chronicle}}

The company expanded to Alaska in 1977, Arizona and Oregon in 1978, and Nevada in 1979. By 1982, Longs had 162 stores and exceeded $1 billion (~${{Format price|{{Inflation|index=US-GDP|value=1000000000|start_year=1982}}}} in {{Inflation/year|US-GDP}}) in sales.{{Cite news|url=https://www.sfgate.com/business/article/Longs-was-the-last-regional-chain-drugstore-3199720.php|title=Longs was the last regional chain drugstore|work=SFGate|access-date=2018-04-19}} In 1987, Longs acquired 11 Osco drugstores in California and one in Colorado. They also sold 15 stores in Arizona to Osco. Their sales passed $2 billion (~${{Format price|{{Inflation|index=US-GDP|value=2000000000|start_year=1990}}}} in {{Inflation/year|US-GDP}}) for the first time in 1990. In 1993, Longs purchased Bill's Drugs, a 20-store chain located in Northern California, for $23.9 million (~${{Format price|{{Inflation|index=US-GDP|value=23900000|start_year=1993}}}} in {{Inflation/year|US-GDP}}).

In 1995, Longs formed Integrated Health Concepts, a Pharmacy Benefit Management company. They also closed 2 stores located in Alaska. In 1997, Longs and American Drug Stores Inc. (subsidiary of Albertson's Inc. at the time) merged their pharmacy benefit management companies to create RxAmerica, with each company retaining 50% ownership.

In 1998, Longs acquired 20 Drug Emporium stores from Western Drug Distributors, Inc. 18 of the stores were located in western Washington and two in the Portland, Oregon. Rite Aid sold Longs 32 stores located in California for $150 million (~${{Format price|{{Inflation|index=US-GDP|value=150000000|start_year=1999}}}} in {{Inflation/year|US-GDP}}) in October 1999, which itself were former PayLess Drug locations since 1998.

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 stepped 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. He was replaced by Harold Somerset, and a few months later Warren Bryant, a previous Senior Vice President of Kroger.{{cite news |last1=Lublin |first1=Joann |title=Longs Drugs Stores Taps Ex-Kroger Official as CEO |url=https://www.wsj.com/articles/SB1036009765687013671 |access-date=6 April 2025 |publisher=WSJ |date=31 October 2002}} In 2004 Longs acquired Sacramento, California-based American Diversified Pharmacies (ADP), a mail order pharmacy. On January 1, 2006, RxAmerica began offering Medicare Part D prescription drug plans in all 50 states and the District of Columbia.

In June 2006, Longs purchased 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 were much smaller than Long's traditional retail stores. Longs also purchased 4 stores from PharMerica, Inc., a subsidiary of AmerisourceBergen Corporation.

By 2008, CVS/pharmacy acquired Longs Drugs, and rebranded all pharmacies outside Hawaii by the summer of the following year. In 2011, CVS closed the {{convert|90,000|sqft|m2|abbr=on}} flagship superstore on 5100 Broadway in Oakland, CA, due to property redevelopment plans.{{cite news| url=http://www.sfgate.com/cgi-bin/blogs/inoakland/detail?entry_id=84569 | work=The San Francisco Chronicle | title=Former Super Longs to close amidst extensive redevelopment plans | date=March 8, 2011}}

Image:Longsdrugssouthsanfrancisco.JPG, USA. Note sign announcing CVS/pharmacy coming soon.]]

On August 12, 2008, Longs Drugs announced that they were being acquired by CVS Health, the operator of the national CVS/pharmacy chain of drugstores.{{Cite web|date=2008-08-12|title=CVS Caremark Corporation to Acquire Longs Drug Stores Corporation|url=https://www.businesswire.com/news/home/20080812006361/en/CVS-Caremark-Corporation-Acquire-Longs-Drug-Stores|access-date=2020-08-27|website=www.businesswire.com|language=en}} 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 Health paid a total of $2.54 billion to acquire all outstanding shares of Longs Drugs, and hoped to save upwards of $100 million in 2009 and $140–$150 million in 2010 in expenses from synergies attained from the business combination.{{cite web|url=http://bigcharts.marketwatch.com/news/articles.asp?guid={8BF352F3-659E-4964-84DB-9B6650B6968A}&newsid=935607946&orig=&time=&symb=CVS&sid=3082&source=htx\http2_mw|title=News - BigCharts.com|publisher=Bigcharts.marketwatch.com|accessdate=8 January 2015}} On September 12, 2008, the Walgreen Co. stepped in with an offer representing a $3.50 (~${{Format price|{{Inflation|index=US-GDP|value=3.5|start_year=2008}}}} in {{Inflation/year|US-GDP}}) per share premium over the cash purchase price offered by CVS.{{Cite news| url=https://www.wsj.com/articles/SB122126726883530769?mod=hpp_us_whats_news | work=The Wall Street Journal | title=Walgreen Jumps In With Rival Bid for Longs Drug | date=September 15, 2008 | first1=Amy | last1=Merrick | first2=David | last2=Armstrong}} 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.

{{Cite news|url=https://www.businesswire.com/news/home/20081029005646/en/CVS-Caremark-Successfully-Completes-Tender-Offer-Longs|title=CVS Caremark Successfully Completes Tender Offer for Longs Shares|date=October 30, 2008|accessdate=October 22, 2019|publisher=Businesswire}} According to the San Francisco Chronicle, CVS retained the Longs Drugs name in the Hawaii stores "because of its high name recognition and the geographical separation."{{cite web|url=http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/10/31/BU6813S02S.DTL|title=800 Longs employees to be let go in East Bay|work=SFGate|accessdate=8 January 2015}} Before the merger, CVS had no full-service stores in Northern California or Hawaii.

Although a California-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.[http://investor.shareholder.com/longs/chronology.cfm?id=1 History of Longs Drug Stores] {{webarchive|url=https://web.archive.org/web/20070106134444/http://investor.shareholder.com/longs/chronology.cfm?id=1|date=January 6, 2007}} In 2005, Honolulu Advertiser columnist Lee Cataluna published a short-story collection, Folks You Meet in Longs, and Other Stories.[http://www.booklineshawaii.com/book/bah/04371X.html Folks You Meet in Longs and other stories by Lee Cataluna] {{webarchive|url=https://web.archive.org/web/20061114034400/http://www.booklineshawaii.com/book/bah/04371X.html|date=November 14, 2006}} It is based on Cataluna's eponymous play which premiered August 2003 at Kumu Kahua Theatre.[http://www.kumukahua.org/plays33rd.html 33rd Season of Plays for and about Hawai`i] {{webarchive|url=https://web.archive.org/web/20050205160913/http://www.kumukahua.org/plays33rd.html|date=February 5, 2005}}

In an effort to combat Walgreens' expansion in Hawaii, CVS began a statewide expansion in 2010, with many new locations within a mile of an existing Longs Drugs.{{cite web|url=http://www.staradvertiser.com/business/20100709_Isles_will_see_4_more_Longs.html|title=Honolulu Star-Advertiser, Hawaii's business leader. - Isles will see 4 more Longs - Hawaii Business - Honolulu Star-Advertiser|author=Honolulu Star-Advertiser|work=Honolulu Star-Advertiser - Hawaii Newspaper|archive-url=https://web.archive.org/web/20100712053233/https://www.staradvertiser.com/business/20100709_Isles_will_see_4_more_Longs.html|archive-date=2010-07-12|url-status=dead|accessdate=2019-10-19}} However, CVS closed two 'underperforming' stores in Honolulu in 2019.{{cite web|url=https://www.hawaiinewsnow.com/2019/05/03/cvs-closing-dozens-stores-us-including-honolulu/|title=CVS closing dozens of stores in US, including 2 in Honolulu|author=HNN Staff|work=Hawaii News Now|accessdate=6 May 2019}}

{{Reflist}}

• [http://www.longs.com/ Longs Drugs web site]
• [http://www.longs.com Longs Drugs Weekly Ad Page]

{{CVS Health}}

Category:Defunct pharmacies of the United States

Category:Companies based in Contra Costa County, California

Category:Skaggs family

Category:Retail companies established in 1938

Category:Defunct companies based in the San Francisco Bay Area

Category:Retail companies based in California

Category:1938 establishments in California

Category:CVS Health

Category:Health care companies based in Hawaii

Category:2008 mergers and acquisitions