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Jean Coutu reduces stake in Rite Aid
New York -- Canada’s Jean Coutu Group has sold 56 million of its approximately 234.4 million shares in Rite Aid, the company said Friday.
The Canadian retailing group said the $83.6 million sale, which amounts to a 23.9%% reduction in the number of Rite Aid shares the company owns, would reduce its stake in Camp Hill, Pa.-based Rite Aid to 19.85%. The Jean Coutu group still owns about 178.4 million shares in the 4,667-store chain.
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Cooler company gets seasoned sales help based in B’ville
Igloo Products Corp., named Terri Brooks VP strategic accounts as part of a larger sales reorganization and said she would be based in Bentonville.
Katy, Texas-based Igloo said the addition of Brooks to her newly created position and the addition of David D’Auteuil as VP new business development would accelerate the momentum the company has achieved from new product introductions and aggressive marketing.