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CVS Caremark said yesterday that it is acquiring Drogaria Onofre, described as Brazil's eighth largest drugstore chain by volume and 18th largest by store count (44).

Terms of the deal were not disclosed. It is the first acquisition outside the US for the company.

CVS Caremark will have a 100 percent ownership in the Brazilian chain, though Reuters reports that "Onofre's stores will continue to be managed locally by two brothers currently running the chain."
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