Headlines

Albertsons to Acquire Remaining Rite Aid Stores

This deal follows Rite Aid’s agreement with Walgreens

Published

6 years ago

February 21, 2018

Albertsons (Boise, Idaho) has reached an agreement with Rite Aid (Camp Hill, Pa.) to purchase the latter company’s remaining locations. The announcement follows the purchase of the majority of Rite Aid’s stores by Walgreens (Deerfield, Ill.) in a $4.38 billion deal last year that included 1932 stores and three distribution centers.

Now, Albertsons is looking to purchase Rite Aid’s remaining fleet as a way to expand and adjust to a fast-changing environment, according to The New York Times. The company plans to rebrand its in-store pharmacies as Rite Aid, as well as continue to operate some standalone Rite Aid pharmacies.

While the deal is still subject to regulatory and shareholder approval, the proposed deal would increase Albertsons’ footprint from more than 2300 stores in 35 states to about 4900 stores across 38 states. It is expected to close later this year.

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