Albertsons to Buy Rite Aid, Combining Groceries and Drugstores [The New York Times]
Rite Aid Corporation (RAD)
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Source: The New York Times
Photo Rite Aid agreed last year to sell more than 1,900 stores and three distribution centers to Walgreens. Credit Christopher Gregory for The New York Times The supermarket operator Albertsons agreed to buy the remnants of the Rite Aid drug chain on Tuesday, the latest deal to shake up a grocery industry already experiencing major upheaval. The combined company would have about 4,900 locations in 38 states and the District of Columbia, the companies said. Albertsons would rebrand its in-store pharmacies under the Rite Aid name, and would continue to operate some stand-alone Rite Aid pharmacies. Rite Aid agreed last year to sell 1,932 stores and three distribution centers to Walgreens for $4.38 billion after the companies failed to complete an even bigger deal. The transaction underscores the challenges facing retailers of all kinds as consumers do more and more of their buying online — and as Amazon gobbles up a greater share of
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