Rite Aid recently announced that it had agreed to purchase the remaining shares of Bartells, a pharmacy chain with 1,500 stores across the United States. This move comes as Rite Aid looks to expand its pharmacy services, as well as its own private label drug products.
The deal is valued at around $3.3 billion, and it is expected to be completed by the end of the year. While the purchase of Bartells has been seen as a relatively minor move by Rite Aid, it does signal a larger trend in the pharmacy industry.
Pharmacies are increasingly looking to merge with one another in order to create larger, more powerful entities. This is likely due to the increasing competition from the likes of Amazon and Walmart, as well as the growth of online pharmacy services.
Overall, the purchase of Bartells appears to be a relatively minor move by Rite Aid. However, it does signal a larger trend in the pharmacy industry, and it could have a significant impact on the future of the industry.
