Albertson Purchases The Remaining Rite Aid Stores
Albertsons has just announced that they will be purchasing the remaining Rite Aid stores. This means that most Albertsons pharmacies will be rebranded as Rite Aid. The combined companies will have about 4,900 stores, including 4,350 pharmacy locations, in 38 states.
"The combined platform positions Rite Aid to capitalize on our pharmacy expertise and expand and enhance our pharmacy footprint," said Rite Aid Chairman and Chief Executive Officer John Standley. "We are confident that delivering improved customer experiences and value will drive growth and profitability while creating compelling long-term value for shareholders."
Rite Aid is also in the process of selling stores to Walgreens. This merge is coming after the announcement of Amazon, Berkshire, and JP Morgan teaming up to create a health care system for their employees.
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