Rite Aid Corp. has entered into a series of sale and pharmacy services transition agreements.
This includes the rolling transition of pharmacy assets from more than 1,000 stores across the U.S. to operators including CVS Pharmacy, Walgreens, Albertsons, Kroger and Giant Eagle, among others, as well as the sale and operation by CVS Pharmacy of many Rite Aid and Bartell Drugs stores in Idaho, Oregon and Washington.
During the transition, Rite Aid stores will remain open, and customers can continue to access their pharmacy services, including prescription refills and immunizations.
“A key priority for Rite Aid is to ensure that as many of our loyal customers as possible continue to receive the pharmacy services and care they require without interruption,” said CEO Matt Schroeder. “These agreements ensure our pharmacy customers will experience a smooth transition while preserving jobs for some of our valued team members.”
The sale transactions are subject to approval by the U.S. Bankruptcy Court for the District of New Jersey. The court is scheduled to conduct a hearing May 21 to approve the sales. Upon approval from the court, the sales will remain subject to certain regulatory notices and approvals and other customary closing conditions.
Albertsons Cos. and Rite Aid previously attempted to merge in 2018, but that deal was mutually terminated.
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