News Break:
ALBERSTONS ACQUIRES
RITE AID
ALBERSTONS ACQUIRES
RITE AID
For a comprehensive article chock full of all the details
jump over to ChainStoreAge.com.
Additional details from CNN.com which fills in some blanks remaining from the article on ChainStoreAge.com:
Walgreens wanted to buy up all of Rite Aid in 2015, but federal regulators nixed that agreement on antitrust grounds. In September, the two companies announced a scaled back version for nearly 2,000 of Rite Aid's stores. That left Rite Aid with around 2,600 stores.
Albertsons has 2,220 grocery stores, including Vons, Shaw's and Acme. Its pharmacies will be rebranded as Rite Aid and some Rite Aids will continue to operate as stand-alone stores. Rite Aid CEO John Standley will become CEO of the new combined company while Miller will become chairman.