Rhode Island-based CVS can take control of Longs through the transaction as early as today, CVS said. Longs will become a wholly owned subsidiary of CVS.
The purchase will close a 70-year-long chapter in East Bay corporate history that began in May 1938 when brothers Thomas Long and Joseph Long, pioneers in the self service drug retail concept, opened their first store. That initial Longs store was located on Piedmont Avenue in Oakland.
Thursday, October 30, 2008
CVS buys Longs
The purchase of Longs Drug Stores by CVS has finally been completed: