Walgreens to close 600 Rite Aid stores

FILE

FILE

Walgreens Boots Alliance Inc. announced it would close 600 Rite Aid stores as part of its deal to acquire the drugstore chain.

Illinois-based Walgreens agreed to purchase 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. Rite Aid will retain approximately 250 additional stores as compared to the prior agreement announced between Rite Aid and Walgreens in June 2017.