Albertsons Announces Rite Aid Merger
Boise-based grocery Albertsons announced they will be purchasing the remainder of Rite Aid’s drugstore chain. In efforts to build their online presence and compete with retail giant Amazon, Albertsons is planning to rebrand their in-house pharmacies.
“We don’t yet have a store list,” said Chris Wilcox, Vice President of Communications, Public Affairs, and Education for Albertsons. “It’s still fairly early on, so we have a lot of work to do yet. We will likely update the investor [web] page with new info as it becomes available, but I don’t know that we would publish a complete store list. Store lists aren’t something that we typically share even under standard operating conditions.”
Under the new deal, current Rite Aid Chairman and Chief Executive Officer John Standley will become CEO of the combined company, with Albertsons Chairman and CEO Bob Miller serving as Chairman.
The combined company expects to operate approximately 4,900 locations, 4,350 pharmacy counters, and 329 clinics in 38 states and Washington, D.C. They anticipate revenues of $83 billion in 2018, according to a joint statement.
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