Duane Reade
Headquarters:
440 Ninth Avenue
New York, NY 10001
Phone: 212-273-5700
Employees: 5,000
CEO: Richard Dreiling
Privately held
Website:
http://www.duanereade.com
Career
Site
Duane Reade is the largest drug store chain
in the metropolitan New York City area, offering a wide variety
of prescription and over-the-counter drugs, health and beauty
care items, cosmetics, greeting cards, photo supplies and photofinishing.
Duane Reade's aggressive and targeted store opening program has
expanded the chain from 67 stores at the end of 1997 to 245 stores
today. There are 145 locations in Manhattan.
During the first quarter, the Company opened
two new stores and closed five stores. Stores average 7,030 square
feet.
The company has introduced walk-in medical
care at three Manhattan locations with a physician in store offering
routine medical exams and treatment services.
In 2006, Duane Reade reported revenues
of $1.53 billion and net loss of $80.1 million.
History
Founded in 1960, Duane Reade began as one
store on Broadway between Duane and Reade Streets in Manhattan,
and has expanded to occupy the leading market share position
in the area.
On July 30, 2004, Duane Reade was acquired
by Oak Hill Capital Partners LP, a private equity firm with investments
in over 40 other companies and more than $4.6 billion under management.
The acquisition was achieved through a purchase of all of the
outstanding shares of Duane Reade's common stock, combined with
a reissuance of the Company's public debt.
Duane Reade is now privately-held and the
daily store operations remain largely unchanged, allowing management
the opportunity to focus on improving overall performance and
enhance the company's metro area market share.
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