Rite Aid purchase part of Albertsons’ prescription for growth
by Leigh Jones
Posted 2/20/18, 11:42 am
Supermarket giant Albertsons announced plans Tuesday to buy pharmacy chain Rite Aid, a deal that will position both companies better to compete with retailing giants Amazon and Walmart. Directors from both companies have approved the deal, but federal regulators must still weigh in. If the deal gets a governmental green light, Albertsons will incorporate Rite Aid branding into in-store pharmacies across several grocery brands, including Safeway and Super Saver. Federal regulators nixed a proposed merger between Rite Aid and Walgreens last year due to anti-trust concerns. Walgreens instead opted to buy a little less than half of Rite Aid’s stores, leaving Albertsons to pick up the rest. The new company will be worth about $24 billion.
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Leigh lives in Houston with her husband and daughter. She is the news editor for The World and Everything in It and reports on education for WORLD Digital.