As part of the merger with Walgreens, Rite Aid is selling 865 stores to Fred's Pharmacy.
According to CouponsInTheNews.com, the sale is necessary in order to gain FTC approval of the Walgreens and Rite Aid merger.
Wondering if your Rite Aid will be sold to Fred's? At this time, they have not released any specifics regarding the locations that will be included in the sell-off. Rite Aid issued a statement indicating that “specific locations of the stores to be divested will be announced upon FTC approval of the Walgreens Boots Alliance and Rite Aid merger.”
The stores being sold to Fred's will remain Rite Ad stores for approximately 2 years after the sale. More than likely, the Rite Aid stores that are very near a Walgreens store will be the ones that change hands.
Fred's is a Memphis-based chain and this purchase will make them the third largest drug store chain in the country.
For more information on the merger, see CouponsInTheNews.com.