Big B Drugs: Difference between revisions

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[[Image:Big-b.JPG|right]]
[[Image:Big B Drugs 1977 ad.jpg|right|thumb|475px|1977 Big B Drugs advertisement]]
'''Big B Drugs''' began operation in [[1968]] as part of [[Bruno's Supermarkets]], headquartered in [[Birmingham]]. Most of its stores were located next to a Bruno's, [[Food World]] or [[FoodMax]], all Bruno's-owned stores..
'''Big B Drugs''' was a drug store chain that began operation in [[1968]] as part of [[Bruno's Supermarkets]], headquartered in [[Birmingham]]. Most of its stores were located next to a Bruno's, [[Food World]] or [[FoodMax]], all Bruno's-owned stores.


In [[1982]], Big B was spun-off from Bruno's Supermarkets into an independent company, Big B Inc., based in [[Bessemer]].  In [[1989]], Big B acquired 85 Reed Drug Stores and Lee Drug Stores from Peoples Drug.  The Reed stores were located in metro Atlanta, and north Georgia, while the Lee stores were located in Columbus, Georgia and eastern Alabama.
In [[1982]], Big B was spun-off from Bruno's Supermarkets into an independent company, '''Big B Inc.''', headquartered at 2600 [[Morgan Road]] in [[Bessemer]].  In [[1989]], Big B acquired 85 Reed Drug Stores and Lee Drug Stores in Georgia and East Alabama from Peoples Drug.


The company had close to $800 million in revenue by [[1996]], when Big B was acquired by Revco. Within a year, Revco was acquired by CVS. By the end of [[1997]], all Big B Drugs and Revco were operating as [[CVS/pharmacy]].  
The company had 397 locations, 6,000 employees, and close to $800 million in revenue by [[1996]], making it the 10th largest pharmacy chain in the United States. It had experienced 19 straight quarters of sales and earnings gains until costs overshadowed revenues in the third quarter of [[1995]], partly because of the pricing pressure exerted by Health Maintenance Organizations (HMOs). The precipitous decline in earnings were compounded by higher employee and insurance costs. A new $20 million computerized tracking system, installed the same year, quickly revealed the rapidly-tightening margins, forcing the company to adjust its forward outlook statements downward, causing a tumble in stock prices. The combined effects of those developments made the company especially vulnerable to a takeover.
 
A $14-per-share hostile takeover bid by Twinsburg, Ohio-based Revco Drug Stores was initially dismissed by chairman [[Anthony Bruno]] and was quickly raised to $15. After Big-B's investment bankers solicited offers from other rival chains, a bidding competition broke between Revco and an unnamed suitor. Revco ultimately pushed their offer up to $17.25 per share and the other suitor dropped out of the bidding.
 
Within months, Revco was itself acquired by Woonsocket, Rhode Island-based CVS. By the end of [[1997]], all Big B Drugs and Revco were operating as [[CVS]] locations. Big B Inc. remained the franchise owner and licensee well after the change was made.


== Birmingham District locations ==
== Birmingham District locations ==
[[Image:Big-b.JPG|right|thumb|275px|A Big B Drugs storefront]]
* 520 [[Highway 119]], [[Alabaster]]
* 901 [[9th Avenue North Bessemer|9th Avenue North]], [[Bessemer]]
* 2910 [[Morgan Road Bessemer|Morgan Road]], Bessemer
* 221 [[20th Street North]], [[Birmingham]]
* 7501 [[1st Avenue North]], Birmingham/[[East Lake]]
* 1431 [[11th Avenue South]], Birmingham
* 2228 [[Bessemer Road]], Birmingham
* 5956 [[Chalkville Mountain Road]], Birmingham
* 228 [[Gadsden Highway]], Birmingham/[[Roebuck]]
* 105 [[Inverness Plaza]], Birmingham/[[Highway 280]]
* 4500 [[Montevallo Road]], Birmingham
* [[Queensbury Shopping Center]], [[Carson Road]], Birmingham
* 2040 [[Springdale Lane]], Birmingham
* 301 [[Walker Chapel Road]], [[Fultondale]]
* 1303 [[Decatur Highway (Gardendale)|Decatur Highway]], [[Gardendale]]
* 4685 [[Highway 17]], [[Helena]]
* 3030 [[Independence Drive]], [[Homewood]]
* 3030 [[Independence Drive]], [[Homewood]]
* 228 [[Gadsden Highway]], [[Roebuck]]
* 418 [[West Valley Avenue]], Homewood
 
* [[Clearbrook Road]] near [[Shades Mountain Plaza]], [[Hoover]]/[[Bluff Park]]
==Sources==
* 1769 [[Montgomery Highway (Hoover)|Montgomery Highway]], Hoover
*Big B Drugs. (2007, July 14). In Wikipedia, The Free Encyclopedia. Retrieved 00:06, July 25, 2007 [http://en.wikipedia.org/w/index.php?title=Big_B_Drugs&oldid=144532980]
* [[Southlake Shopping Center]], [[Valleydale Road]], Hoover
*Bruno's Supermarkets annual reports 1971-1983
* [[Allison-Bonnett Memorial Drive]], [[Hueytown]]
*Big B, Inc.  Annual Reports 1982-1995
* [[Highway 78]], [[Irondale]]
*Imasco, Limited  Annual Report 1986-1989
* 200 [[Highway 78]], [[Jasper]]
* [[Leeds]]
* [[The Crossroads]], [[Moody]]
* 2738 [[U.S. Highway 31]], [[Pelham]], opened January [[1974]]
* [[Center Point Road]], [[Pinson]]
* 315 [[Main Street Trussville|Main Street]], [[Trussville]]
* 1451 [[Montgomery Highway (Vestavia Hills)|Montgomery Highway]], [[Vestavia Hills]]
* 2480 [[Rocky Ridge Road]], Vestavia Hills
* 4197 [[Crosshaven Drive]], Vestavia Hills/[[Cahaba Heights]]
* [[Bellview Plaza Shopping Center]] [[Aaron Aronov Drive]] [[Fairfield]]


{{GFDL}}
==References==
* Williams, Roy L. (June 30, 1996) "Big B's blues: The drugstore giant has suffered from poor earnings, despite record sales, bit it says rumors of a buyout are just that." {{BN}}
* Underwood, Jerry (October 3, 1996) "Big B says others beat Revco's offer." {{BN}}
* Underwood, Jerry (November 3, 1996) "Revco rival for Big B dropped out at last minute." {{BN}}
* Underwood, Jerry (January 12, 1997) "Big B was big pool's small fish: Pharmacy shark Revco gobbled up drug chain." ''Birmingham News''
* "[http://en.wikipedia.org/w/index.php?title=Big_B_Drugs Big B Drugs]" (July 14, 2007) Wikipedia - accessed July 25, 2007
* Bruno's Supermarkets annual reports 1971-1983
* Big B, Inc.  Annual Reports 1982-1995
* Imasco, Limited Annual Report 1986-1989


[[Category:Drug stores]]
[[Category:Drug stores]]
[[Category:Major corporations]]
[[Category:Former public companies]]
[[Category:Merged corporations]]
[[Category:Merged corporations]]
[[Category:1968 establishments]]
[[Category:1982 establishments]]
[[Category:Bruno's]]
[[Category:Queensbury Shopping Center]]
[[Category:Riverchase Crossings]]
[[Category:Clairmont Plaza South]]

Latest revision as of 21:56, 6 January 2024

1977 Big B Drugs advertisement

Big B Drugs was a drug store chain that began operation in 1968 as part of Bruno's Supermarkets, headquartered in Birmingham. Most of its stores were located next to a Bruno's, Food World or FoodMax, all Bruno's-owned stores.

In 1982, Big B was spun-off from Bruno's Supermarkets into an independent company, Big B Inc., headquartered at 2600 Morgan Road in Bessemer. In 1989, Big B acquired 85 Reed Drug Stores and Lee Drug Stores in Georgia and East Alabama from Peoples Drug.

The company had 397 locations, 6,000 employees, and close to $800 million in revenue by 1996, making it the 10th largest pharmacy chain in the United States. It had experienced 19 straight quarters of sales and earnings gains until costs overshadowed revenues in the third quarter of 1995, partly because of the pricing pressure exerted by Health Maintenance Organizations (HMOs). The precipitous decline in earnings were compounded by higher employee and insurance costs. A new $20 million computerized tracking system, installed the same year, quickly revealed the rapidly-tightening margins, forcing the company to adjust its forward outlook statements downward, causing a tumble in stock prices. The combined effects of those developments made the company especially vulnerable to a takeover.

A $14-per-share hostile takeover bid by Twinsburg, Ohio-based Revco Drug Stores was initially dismissed by chairman Anthony Bruno and was quickly raised to $15. After Big-B's investment bankers solicited offers from other rival chains, a bidding competition broke between Revco and an unnamed suitor. Revco ultimately pushed their offer up to $17.25 per share and the other suitor dropped out of the bidding.

Within months, Revco was itself acquired by Woonsocket, Rhode Island-based CVS. By the end of 1997, all Big B Drugs and Revco were operating as CVS locations. Big B Inc. remained the franchise owner and licensee well after the change was made.

Birmingham District locations

A Big B Drugs storefront

References

  • Williams, Roy L. (June 30, 1996) "Big B's blues: The drugstore giant has suffered from poor earnings, despite record sales, bit it says rumors of a buyout are just that." The Birmingham News
  • Underwood, Jerry (October 3, 1996) "Big B says others beat Revco's offer." The Birmingham News
  • Underwood, Jerry (November 3, 1996) "Revco rival for Big B dropped out at last minute." The Birmingham News
  • Underwood, Jerry (January 12, 1997) "Big B was big pool's small fish: Pharmacy shark Revco gobbled up drug chain." Birmingham News
  • "Big B Drugs" (July 14, 2007) Wikipedia - accessed July 25, 2007
  • Bruno's Supermarkets annual reports 1971-1983
  • Big B, Inc. Annual Reports 1982-1995
  • Imasco, Limited Annual Report 1986-1989
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