Walgreens Boots Alliance Inc. agreed to acquire Rite Aid Corp. for around $9.4 billion in cash to further expand the company’s position in the distribution of medications in the U.S. This move combined the American second and third largest drugstore chains, surpassing market leader CVS Health Corp.
This acquisition not only expand Walgreens’ store locations up to about 12,800, all the existing Rite Aid stores will have a makeover. The revamped Rite Aid’s stores will focus on health and wellness, as well as beauty. Some of the older style stores will be revitalized as well. The process of switching names over might be time-consuming, but the plan is to integrate the two chains eventually. News has it that two chains might want to keep their separate names for now, for the sake of synergy created. But no surprise if Walgreens wants their name more uniform and take down all Rite Aid’s names. So don’t be surprised if you can’t find a Rite Aid store in 3 months!