11.01.17
After several deals fell through during the past two years, Walgreens Boots Alliance Inc. will buy Rite Aid Corp. stores after a last-minute reduction of the number of stores and price. After three failed attempts, the US Federal Trade Commission approved the following deal: Walgreens will buy 1,932 Rite Aid stores for $4.38 billion.
That’s about 250 fewer stores than under a previous proposal, which totaled $5.18 billion.
After all stores are acquired, they will 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, CT; Philadelphia, PA and Spartanburg, SC. 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.
After all stores are acquired, they will 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, CT; Philadelphia, PA and Spartanburg, SC. The transition of these distribution centers to Walgreens will not begin for at least 12 months.
