The Rite Aid Corporation, or Rite Aid, announced on January 27, 2018 that it had reached an agreement to be purchased by Walgreens Boots Alliance, or Walgreens. The purchase is valued at $9.3 billion, and will result in the creation of the largest pharmacy in the United States.
Walgreens currently operates more than 2,000 stores across the United States. The purchase of Rite Aid stores will result in Walgreens owning a total of 2,163 stores.
The Walgreens Boots Alliance purchase of Rite Aid stores is an interesting development. Walgreens has been struggling in recent years, while Rite Aid has been doing well. The purchase of Rite Aid stores will give Walgreens a larger footprint in the pharmacy market, and it will give the company a stronger presence in certain areas.
However, the purchase does not mean that Walgreens is taking over the Rite Aid Corporation. The Rite Aid Corporation will continue to operate as a separate, independent company.
