In order for its $17 billion deal with Rite Aid Corporation to close, Walgreens Boots Alliance, Inc. must meet regulatory requirements, which calls for either selling or closing up to 1,000 stores. The exact number of stores Walgreens is attempting to sell is 650, however nobody is biting. Regardless of this dilemma, Walgreens still expects its Rite-Aid deal to close in the second half of this year.
According to the New York Post, private equity firms are not interested in the aforementioned Walgreens stores because they don’t see those them as high quality prospects. This doesn’t mean Walgreens stores themselves are low quality, but it likely refers to poor locations, which is the most important factor for any brick-and-mortar retailer, including drugstores.. . . more