It is the largest pharmacy chain, pharmacy benefit manager and photo service owned by Hispanics in the U.S. The company’s headquarters are in Florida. Currently, there are 28 stores operating in Broward and Miami-Dade counties. The company has a market share in South Florida of 17 percent. In terms of sales per store, prescriptions filled per store and sales per square foot, Navarro leads the industry.
Navarro Discount Pharmacies was founded in 1940 by Jose Navarro Sr. in Havana, Cuba. The very first company store was established at Monte Street. The client base during that time included Power Company of Cuba’s employees. Later, a second store was opened following the immense success of the first store. The Navarro stores were confiscated by the government after the political change in 1961 in Cuba. Hence, the family was forced to flee to the U.S. When Jose Navarro arrived in Miami he not only cashed an insurance policy, but he also opened a pharmacy on S.W. 13TH Avenue and 8th Street using $4000. This later became the center of Little Havana of Miami.
The year 2007 was marked by tremendous growth and expansion. While Navarro, the founding company, is still the owner of 40 percent of the company, its control was given to MBF Healthcare Partners, an investment firm in 2007. Navarro agreed to integrate its operation with Sedano’s Pharmacy in mid 2007. The two companies formed a total of 31 stores that operated under the brand name, Navarro.
Company headquarters: Medley, Florida
Ownership: Private Company
Number of Stores: 28 Stores
Geography: South Florida
Annual Revenue: 350 Million dollars
No. of Employees: 1,500
Demography: Value Shoppers