April 6, 2018
Grocery retailer Albertson’s to acquire remaining shares of Rite Aid
Under the terms of the agreement, the integrated company will incorporate operate approximately 4,900 locations, 4,350 pharmacy counters, 320 clinics across 38 states and Washington D.C. Albertson’s companies will be rebranded as Rite Aid while the pharmacy’s existing stand alone will remain the same. Through the merger, Albertsons hopes to enhance its geographic footprint, leverage its pharmacy network, utilize data analytics and loyalty programs to drive growth, expanding omni-channel platforms, and combining each brand’s manufacturing and distribution capabilities.
Current Rite Aid chairman and chief executive officer John Stanley will become chief executive officer of the combined company wile current Albertsons Companies chairman and chief executive officer Bob Miller will serve as chairman. The company will be dual headquartered in Boise, Idaho andCamp Hill, Pennsylvania. The name of the combined company will be determined by transaction close.
Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes, it’s completely free.