An upcoming deal that will merge Walgreens and Rite Aid stores could result in fewer stores under those brands.
Walgreens intends to buy Rite Aid early next year for $9 billion. To get federal regulators to back the deal, it would likely have to sell off stores to avoid market saturation. In an effort to be proactive, the two companies have lined up a $950 million sale of 865 Rite Aid stores to a Memphis, Tennessee-based retail/pharmacy chain called Fred’s.
The latest deal still needs to be approved by the Federal Trade Commission.
It’s unknown how the moves will affect local stores- including a new Rite Aid on Main Street in Butler.
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