In a surprise deal, grocery company Albertsons has swooped in to buy the rest of the Rite Aid chain that’s not already being acquired by Walgreens. The result will be a food-and-pharmacy giant that both companies say will be a convenient, affordable arrangement for customers.
The two retailers announced their merger agreement this morning, which will see Albertsons ending up the larger partner, with a roughly 75/25 ownership split of the combined company. There’s no initial word of any Rite Aid store closings or rebrandings – on the contrary, the companies’ announcement says they will not only retain the Rite Aid name and continue to operate existing Rite Aid stores as standalone locations, but they will also rebrand Albertsons-owned grocery stores’ in-store pharmacies as Rite Aid, replacing those currently branded as Sav-on or Osco (likely prompting Albertsons’ hyphenated grocery chain Jewel-Osco to dump the second half of its name).
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