Rite Aid completes 1,932 store divestiture to Walgreens

Alyssa Rege - Print  | 

Camp Hill, Pa.-based Rite Aid completed its planned store divestiture to Deerfield, Ill.-based Walgreens Boots Alliance, Rite Aid announced March 28.

The organizations entered into a $4.38 billion deal in September 2017 to transfer ownership of 1,932 stores, three distribution centers and related inventory.

As of March 27, Rite Aid divested all 1,932 stores to Walgreens for $4.16 billion in cash.

Officials expect to transfer ownership of the three distribution centers and related inventory after Sept. 1, 2018.

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