Business & Tech
Walgreens, Rite Aid Plan to Sell Hundreds of Stores
$950 million deal to unload stores to Fred's could spark merger of two of nation's largest pharmacy companies.
DEERFIELD, IL - Walgreens and Rite Aid have agreed to sell more than 800 of its stores in the United States to Fred’s, a rival retailer.
The deal is for a total of 865 stores and for $950 million, Crain’s Chicago and others report.
A deal was announced last year for Walgreens to buy east coast-based Rite Aid, combining the first and third largest pharmacy chains in the United States.
Find out what's happening in Deerfieldfor free with the latest updates from Patch.
But the Federal Trade Commission has yet to approve the deal due to anti-trust concerns.
The deal to unload the numerous Walgreens and Rite Aid stores to Fred’s could help the deal follow through.
Find out what's happening in Deerfieldfor free with the latest updates from Patch.
It too, however, still needs FTC approval.
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.
