2 Basking Ridge Rite Aids Changing To Walgreens And Could Close

BASKING RIDGE, NJ — Two Basking Ridge Rite Aid stores will convert to Walgreens, and could close after it does.

The Rite Aid stores at 544 Allen Road and 16 Lyons Mall are among the 90 changing to Walgreens soon. The changes come after Walgreens announced in an August U.S. Securities and Exchange Commission filing that it would close 200 stores in 2019.

Fortune reported that Walgreens initially planned to close up to 600 Rite Aids but that number soon grew to 750, executives said earlier this year.

Walgreens' parent company, Walgreens Boots Alliance, Inc., has purchased a total of 1,932 Rite Aid stores across the country. Fortune magazine reported that the company subsequently closed "hundreds" of them following the transaction. The purchase price was $4.375 billion.

The complete transition of these stores to Walgreens is expected to take up to three years, according to Rite Aid.

Rite Aid said that any prescriptions or health care accounts will not change as a result of the conversion.

For a complete list of New Jersey Rite Aids becoming Walgreens, click here.

— With reporting by Tom Davis, Patch staff

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