Walgreens Buying Out Many Rite Aid Locations
Walgreens has announced plans to close about 600 drugstores as part of a deal to buy nearly 2,000 Rite Aid locations.
The Illinois based company is in the process of buying the Rite Aid stores for 4.4 billion dollars. The process is expected to be complete by spring of next year. Walgreens says it will be closing stores, mostly Rite Aid locations within a mile of another store.
The remaining Rite Aid's will be rebranded as Walgreens. A list of the stores has not yet been released.