On this day, May 29 in the year 1927, Jean Couto was born in Quebec, Canada. He is the co-founder of the Jean Couto Group, one of the largest drug distributors and retailers in North America.
Jean Couto studied at the Université de Montréal. In 1969, he opened his first pharmacy in Montreal with his associate at the time, Louis Michaud. The company was incorporated as Services Farmico in 1973 and opened the business to franchisers. It acquired its present name The Jean Coutu Group (PJC) Inc. when it became a public corporation in 1986. The following year it established its first branch in the United States.
The goal of the company is to “offer customers all the advantages of a large drugstore chain while still retaining personalized service.”
At present, Jean Couto retains his position as chief executive officer. His Marcelle and Jean Coutu Foundation is dedicated to fighting poverty and promoting wellness . According to forbes.com, his net worth is $2.5 billion and the company, with store count at 2,200, has revenues above $2 billion.