A month after the Federal Trade Commission gave Walgreens the go-ahead to acquire half of Rite Aid’s 2,000 stores for $4.38 billion, the chain says it will be closing 600 stores — and most of those will be Rite Aid locations. [More]
rite aid
FTC Approves Walgreens’ Acquisition Of Half Of Rite Aid’s Stores
By 9.19.17
If there’s a Rite Aid store in your neighborhood, the odds are about even that there won’t be for long. The Federal Trade Commission has finally approved a deal between the No. 2 and No. 3 drugstore chains in the country, Walgreens and Rite Aid. Instead of acquiring the smaller chain, Walgreens Boots Alliance will buy around half of its stores. [More]
Walgreens Still Hoping To Get Feds’ Approval For Rite Aid Merger
By 9.18.17
For almost two years now, Walgreens and Rite Aid have been trying to make some kind of committed relationship work, but they remain star-crossed corporations. Walgreens wanted to buy the smaller drugstore chain, then switched to acquiring a few thousand of Rite Aid’s stores when it appeared that Federal Trade Commission approval wasn’t going to happen. Now “people with knowledge of the matter” say that a new version of the deal may finally meet FTC approval. [More]
Walgreens No Longer Merging With Rite Aid; Still Plans To Buy Half Of Rite Aid Stores For $5.2 Billion
By 6.29.17
It’s been nearly two years since Walgreens first agreed to buy competitor Rite Aid and its 4,600 or so stores for $9.4 billion to form the nation’s largest drugstore chain, only to see the value of that deal shrink amid antitrust concerns. Today, Walgreens announced that it’s scrapping that original plan to combine forces with Rite Aid but still plans to purchase about half of the smaller company’s retail locations. [More]
Rite Aid: Walgreens Merger Is On Track, Fred’s Buying At Least 1,200 Stores
By 5.4.17 — Updated: 5.9.17
How are things going with Walgreens and Rite Aid, who are still working on their planned merger to become the largest drugstore chain in the United States? In its annual report, Rite Aid reports that the merger is on track, and consumers can expect to have fewer drugstore choices soon, as around 3,300 Rite Aid stores change to Walgreens or close. [More]
Walgreens Slashes $2B From Value Of Rite Aid Merger; Up To 1,200 Stores To Be Sold Off
By 1.30.17
Last Friday, Jan. 27, was the deadline for the deal to close in the proposed acquisition of drugstore chain Rite Aid by competitor Walgreens. Today, the companies announced a revised deal with an eye to meeting Federal Trade Commission approval. This deal values Rite Aid at over $2 billion less, and proposes the sale of hundreds more stores to another drugstore chain. [More]
With One Week Left, Walgreens-Rite Aid Merger May Be In Trouble
By 1.20.17
The proposed merger of mega-drugstore chains Walgreens and Rite Aid seems like a good idea to the companies, but the Federal Trade Commission remains skeptical. With a week left before the purchase agreement expires, the companies need the antitrust watchdog to sign off, and it looks like they may not get it. [More]
Rite-Aid Selling 865 Stores To Fred’s For $950 Million
By 12.20.16
What to do, what to do, when you’re merging and want to be the biggest without being too big? Divest, of course. And that’s where Rite-Aid finds itself today: in order to sell itself to Walgreens and allow their onetime-competitor to become the biggest drugstore chain in the country, it’s ready to shed several hundred stores to build a new third-place competitor. [More]
Report: Kroger Isn’t Interested In Buying A Few Hundred Walgreens Stores
By 10.19.16
If you know anyone who’s interested in buying around 650 grocery stores, Walgreens and Rite Aid would like to hear about it. The two drugstore chains need to find a buyer for between 500 and 1,000 stores to get their merger approved by the Federal Trade Commission, and no one is interested. [More]
Walgreens Will Sell Off Up To 1,000 Stores To Get Approval For Rite Aid Acquisition
By 9.8.16
When two companies in the same business want to merge, a common condition placed on the merger by authorities may be that one or both companies sell part of its business so there’s still some competition in the market. It looks likely that the Federal Trade Commission will approve the proposed merger of Walgreens Rite Aid, but Walgreens may have to give up more locations before the deal goes through. [More]
Walgreens-Rite Aid Merger Still On Track, CEO Says Only 500 Stores Would Close
By 7.6.16
Walgreens and Rite Aid are the biggest and third-biggest pharmacy drugstore in this country, and they want to join forces to become a pharma-Voltron. The companies are waiting for regulatory approval, but the CEO of Walgreens Boots Alliance told shareholders today that the deal will probably go through by the end of 2016, and that it will result in the closing of only about 500 stores. [More]
Report: The FTC Is Probably Cool With The Walgreens-Rite Aid Merger
By 6.10.16
A few months ago, the shareholders of #3 U.S. drugstore chain Rite Aid approved the company’s proposed acquisition by the parent company of the #1 chain, Walgreens Boots Alliance. Now reports indicate that the Federal Trade Commission may give the merger its blessing, as long as certain conditions are met. [More]
Rite Aid Shareholders Vote To Approve $9.4B Merger With Walgreens
By 2.4.16
Walgreens’ path to bring Ride Aid under its wing passed one hurdle on Thursday, as shareholders for the latter chain of drug stores approved a $9.4 billion merger plan. [More]
Rite Aid Will Deploy Thousands Of Beacons To Beam Deals At Shoppers
By 1.20.16
In-store beacons are low-power Bluetooth devices that let stores or brands push promotions out to customers smartphones. They only work when the shopper has opted in by installing an app. Do you really want your favorite shampoo brand beaming coupons at you every time you walk by a shelf? They haven’t really caught on, but Rite Aid is deploying them in 4,500 stores. [More]
Nine Retailers Recall Store-Branded Children’s Cold Medicine Over Overdose Risks
By 1.11.16
Nine retailers, including CVS and Rite Aid, have recalled two flavors of store-branded children’s liquid cold medicine over a potential overdose risk. [More]
If Walgreens And Rite Aid Merge, Thousands Of Stores Might Close
By 11.5.15
Last week, Walgreens Boots Alliance, the parent company of this country’s top drugstore chain, announced that pending antitrust approval, it would buy the #3 chain, Rite Aid, for $9.4 billion. That would create two massive national drugstore chains, and also leave a lot of empty stores. One estimate is that 3,000 stores would close… not necessarily for antitrust reasons, but because the stores are simply too close together. [More]
Walgreens To Buy Rite Aid For $9.4B
By 10.28.15
Just hours after rumors began swirling that a proposal was in the works, Walgreens Boots Alliance – the holding company that owns Walgreens Co. and Boots pharmacies in Europe – officially dropped to one knee offering Rite Aid $9.4 billion to live happily ever drug store after. [More]
Report: Walgreens Boots Alliance Discussing Deal To Buy Rite Aid
By 10.27.15
Walgreens Boots Alliance — the holding company that owns Walgreen Co. and Boots pharmacies in Europe — is reportedly looking to expand its portfolio of drug stores by adding Rite Aid into the mix. [More]
