CVS to Buy Navarro Discount Pharmacy

Navarro Discount Pharmacy, the drugstore chain that's operated in Miami-Dade for more than 50 years, will be acquired by retail giant CVS Caremark. CVS, based in Woonsocket, Rhode Island, unveiled the definitive agreement to acquire Navarro after the stock markets closed Monday. Navarro, the country's largest Hispanic-owned drugstore chain, has annual sales of more than $340 million. Once the deal closes, the 33 stores will continue to operate under the Navarro Discount Pharmacy name, a well-known brand in South Florida that draws a loyal customer following, especially among Hispanics.