As part of the FTC’s agreement to allow Rite Aid’s merger with Walgreens Boots Alliance, the new concern must shed as many as 1,000 stores. Fred’s Inc., the Mississippi-based drug chain, is taking advantage of the opportunity by buying 865 Rite Aid stores for $950 million in cash. The acquisition will more than double Fred’s presence, primarily in the Southeast, and embed the chain in more urban locations.