09.19.17
Walgreens Boots Alliance Inc. will buy into Rite Aid after a last-minute reduction of the number of stores and price, according to reports. The US Federal Trade Commission on its fourth try approved after four attempts the following deal: Walgreens will buy 1,932 Rite Aid stores for $4.38 billion.
After all stores are acquired, stores are planned to be converted to the Walgreens brand in carefully planned phases over time. The stores to be purchased are located primarily in the Northeast and Southern US, and the three distribution centers to be purchased are located in Dayville, Conn., Philadelphia, Pa., and Spartanburg, S.C. The transition of these distribution centers to Walgreens will not begin for at least 12 months.
That’s about 250 fewer stores than under a previous proposal, which totaled $5.18 billion. As reported in Happi, the financial proposal has fluctuated over the past few years.
After all stores are acquired, stores are planned to be converted to the Walgreens brand in carefully planned phases over time. The stores to be purchased are located primarily in the Northeast and Southern US, and the three distribution centers to be purchased are located in Dayville, Conn., Philadelphia, Pa., and Spartanburg, S.C. The transition of these distribution centers to Walgreens will not begin for at least 12 months.
That’s about 250 fewer stores than under a previous proposal, which totaled $5.18 billion. As reported in Happi, the financial proposal has fluctuated over the past few years.