Peoples Drug

Peoples Drug is a defunct chain of drugstores that was based in Alexandria, Virginia. Founded in 1905, it was acquired by the Imasco conglomerate in 1984, which in turn sold the chain to CVS Health in 1990, who converted all Peoples Drug stores to the CVS brand by 1994.

History

Peoples Drug was founded in 1905 by Malcolm Gibbs in Alexandria, Virginia, under the name Peoples Drug Store. The chain expanded rapidly and by 1930, it had 110 stores. In 1933, Peoples Drug became the first drugstore in the world to sell Coca-Cola in a can.

In 1984, the chain was acquired by the Imasco conglomerate. Under Imasco's ownership, Peoples Drug was merged with the Dart Drug chain, which it had acquired in 1989. However, the merger was not successful, and many of the Dart Drug stores were sold off.

In 1990, Peoples Drug was sold to CVS Health, who converted all Peoples Drug stores to the CVS brand by 1994.

Haag Drug Company

Peoples Drug also owned the Haag Drug Company, a chain of drugstores based in Indianapolis, which it had acquired in 1975. Haag Drug was founded in 1896 by J.A. Haag, a pharmacist. The chain was known for its large stores, which often included a lunch counter and a soda fountain. After the acquisition by Peoples Drug, many Haag Drug stores were converted to the Peoples Drug brand. However, after the acquisition by CVS, all remaining Haag Drug stores were converted to the CVS brand.

See also

• List of defunct retailers of the United States

References

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