Rite Aid announced last month that it has transferred 1,651 stores to Walgreens. In all, Walgreens is buying 1,932 stores and three distribution centers from Rite Aid for about $4.4 billion in cash. The transfer of the remaining stores to Walgreens will take place this spring.
The remaining 2,500+ Rite Aid stores are being sold to Albertsons in a deal that will leave Rite Aid shareholders with ownership of 28% – 30% of the combined company. The yet-to-be-named combined company will trade publicly on the New York Stock Exchange.