Retail News
Fred’s snatches up 865 Rite Aid stores
The Street 12/20/2016As 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.
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