Walgreens to close 600 Rite Aid stores: What to know

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.

The deal is expected to go through in spring 2018.

Both Rite Aid and Walgreens have stores across Southwest Ohio. Rite Aid is one of the nation’s leading drugstore chains that currently operates more than 4,500 stores in 31 states. Stores will continue operating as is, the company said.

A list of store closures hasn’t been released yet, but the store closures will happen over the next 18 months.

FIVE FAST BUSINESS READS

• Target to offer free online shipping in November on all orders

• Meijer, Whole Foods issue recalls: 5 things to know about Ohio impact

• Shoe company to close all stores on Thanksgiving

• Auntie Anne’s adds 2 new limited time pretzel flavors

• STORE CLOSINGS: 75 retailers expected to close on Thanksgiving

In Other News

Does Ohio need a paid family leave policy? New report says so

EXCLUSIVE: Amazon considers building Ohio data center in Fayette County

Centerville’s first collaborative workspace to debut in city’s uptown

WOMEN IN BUSINESS: Ashley Scharrer, president of Moonlight Security...

Cincinnati Children’s continues upward expansion with plans for...

About the Author

Kara Driscoll