On January 22, 2002, Maxi Drug, Inc., a wholly owned subsidiary of The Jean Coutu Group, acquired from Albertson's, Inc., one of the world's leading food and drug retailers, eighty Osco Drug stores in Maine, Massachusetts and New Hampshire. The purchase price was approximately US$240 million.
In addition, The Jean Coutu Group entered into a $310 million US dollars Credit Facility Agreement with a group of lenders headed by National Bank of Canada, New York Branch, for the further development of The Jean Coutu Group in New England, through its Brooks Pharmacy chain having more than 300 drug stores in operation.
The Jean Coutu Group was represented by senior partner Yvon Martineau and partner Marc Novello of Fasken Martineau.