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WRAL SmartShopper

WRAL SmartShopper

Walgreens selling 500+ stores in Rite Aid purchase

Posted September 12

As Walgreens moves forward with the purchase of Rite Aid, they may have to sell as many as 1,000 stores.

Progressive Grocer reports that to avoid antitrust issues with the Federal Trade Commission, Walgreens plans to sell between 500 and 1,000 stores. At this time, Walgreens has not announced which specific stores will be sold.

They are still expecting to complete the sale before the end of 2016.

In October 2015, Walgreens, the largest drug store chain in the country, announced that it was buying Rite Aid for $9.4 billion.

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