Supermarket operator Albertsons Companies will buy the rest of Rite Aid not being sold to Walgreens Boots Alliance; the latest in a string of drug industry mergers to tackle the threat of Amazon.com, reported Bloomberg.
According to Bloomberg, Rite Aid will get a buyer after a failed merger with another chain last year. Albertsons will add new locations and size amid increasing pressure from online competitors. And the grocer’s private-equity owners will exit their 2006 investment without having to go through an initial public offering in a turbulent market.The combined companies will have about 4,900 stores, including 4,350 pharmacy locations, in 38 states, they said in a statement.
Full Content: Bloomberg
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