Wednesday, November 29, 2017

Rite Aid and Walgreens begin store transfer process

The transition has begun.

Rite Aid announced that it has completed the pilot closing and first subsequent closings as part of its asset purchase agreement with Walgreens Boots Alliance. Rite Aid executed the transfer of 97 stores and related assets to Walgreens.

 Under the amended agreement, Walgreens will purchase a total of 1,932 stores, three distribution centers and related inventory from Rite Aid for an all-cash purchase price of $4.375 billion on a cash-free, debt-free basis.. . . more

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