German food giant CVS has announced that it is open for business in the United States and Canada as it looks to capitalize on its American customers and feed them in the new German food market.
The new store will open in a shopping center near Chicago’s Lincoln Park neighborhood and is expected to have a total of 6,500 square feet of space.
CVS announced the plans in an announcement posted to the company’s website on Wednesday.
“We are very pleased to welcome the German Food Stores to our family,” said CVS Chief Executive Officer David Paretsky.
“Our stores in Germany are some of the most popular and have been for many years.
We know how important food can be to the local community and we’re proud to serve them in this new opportunity.”
The chain, which is the largest in Germany with stores in 18 cities and nine states, also said it would partner with local restaurants.
“CVS has always offered a wide range of quality products at affordable prices,” said John O’Neill, CVS Americas CEO.
“This expansion is a natural next step in our commitment to help Americans find the quality, affordable food they need at affordable cost.
We’re excited to be a part of this growing American food movement.”
The new CVS store in Lincoln Park, Ill.
The chain said it expects to open at the Lincoln Park Mall in the spring of 2021.
In addition to serving American customers, Cvs is also expanding its European business.
“With a focus on our new stores, CVC will be introducing a number of new offerings to serve customers across Europe in the coming months,” O’Neil said.
CVC already has stores in France, Germany, Belgium, Italy, the United Kingdom, Spain, Austria and the Netherlands.
Cvs also said that it would open an expanded European store in Hamburg, Germany.
CVP said that its new American stores will be staffed with approximately 200 employees.
Covington, Ky.-based CVS, which also owns Kroger and Home Depot, said that more than 70% of its stores in the U.S. are open to the public, compared with about 25% nationwide.
CVs said that in 2020, it plans to open more than 500 stores across the country.
“The opening of our new U.