Albertsons to Buy Rite Aid, Combining Groceries and Drugstores
- 6 years ago
Albertsons to Buy Rite Aid, Combining Groceries and Drugstores
In December, the drugstore giant CVS Health said that it would merge with the health insurer Aetna in a $69 billion deal
that could reshape the way health care is delivered in the United States.
The online giant made an aggressive push into the grocery business last year, acquiring the upscale chain Whole
Foods for $13.4 billion in a deal with the potential to transform the supermarket industry in fundamental ways.
Under the terms of the deal announced on Tuesday, Rite Aid shareholders would get $1.83 in cash
and a share of Albertsons stock for every 10 shares of Rite Aid they own.
Rite Aid agreed last year to sell 1,932 stores and three distribution centers to Walgreens
for $4.38 billion after the companies failed to complete an even bigger deal.
The company recently teamed up with Berkshire Hathaway
and JPMorgan Chase to form an independent health care company to serve the three firms’ employees and potentially revamp the broader industry.
The supermarket operator Albertsons agreed to buy the remnants of the Rite Aid drug chain on
Tuesday, the latest deal to shake up a grocery industry already experiencing major upheaval.
In December, the drugstore giant CVS Health said that it would merge with the health insurer Aetna in a $69 billion deal
that could reshape the way health care is delivered in the United States.
The online giant made an aggressive push into the grocery business last year, acquiring the upscale chain Whole
Foods for $13.4 billion in a deal with the potential to transform the supermarket industry in fundamental ways.
Under the terms of the deal announced on Tuesday, Rite Aid shareholders would get $1.83 in cash
and a share of Albertsons stock for every 10 shares of Rite Aid they own.
Rite Aid agreed last year to sell 1,932 stores and three distribution centers to Walgreens
for $4.38 billion after the companies failed to complete an even bigger deal.
The company recently teamed up with Berkshire Hathaway
and JPMorgan Chase to form an independent health care company to serve the three firms’ employees and potentially revamp the broader industry.
The supermarket operator Albertsons agreed to buy the remnants of the Rite Aid drug chain on
Tuesday, the latest deal to shake up a grocery industry already experiencing major upheaval.