In March 2018, Walgreens and Rite Aid agreed to a $4.3 billion deal for Walgreens to purchase 1,932 Rite Aid locations and 3 distribution centers. A partnership with in June 1999 allowed customers of Rite Aid to place medical prescription orders online for same-day, in-store pickup.

General Nutrition Corporation ( GNC) and Rite Aid formed a partnership in January 1999, bringing GNC mini-stores within the Rite Aid pharmacies. Some customers have criticized the acquisition with reports of heavy staff turnover and computer system glitches. In October 2020, Rite Aid announced the acquisition of the privately held Bartell Drugs, a 67-location Seattle-area chain, for $95 million. In 2015, Rite Aid purchased EnvisionRx, a pharmacy benefit manager, which owns subsidiary PBMs MedTrak, Connect Health Solutions, and Smith Premier Services. The merger was signed and completed as of June 4, 2007, with all remaining Eckerd stores converted to Rite Aid by the end of September 2007. Rite Aid announced that the two chains would be converted to the Rite Aid name, retiring the 109-year-old Eckerd banner. On August 23, 2006, the Wall Street Journal announced that Rite Aid would acquire 1,858 Eckerd Pharmacy and Brooks Pharmacy stores from Jean Coutu for US$3.4 billion. to expand the company's presence in upstate New York. In the 1990s, Rite Aid partnered with Carl Paladino's Ellicott Development Co. brought Rite Aid into the Gulf Coast area. The acquisition of Thrifty PayLess included the Northwest-based Bi-Mart membership discount stores, which was sold off in 1998. In 1996, Rite Aid acquired Thrifty PayLess, a 1,000-store West Coast chain. One year later, Rite Aid acquired 224 stores from Perry, thus expanding its presence in Michigan even further. Rite Aid acquired twenty-four Hook's Drug Stores stores in 1994, selling nine of those stores to Perry Drug Stores, a Michigan-based pharmacy chain. On April 10, 1989, Peoples Drug's 114 unit Lane Drug of Ohio was purchased by Rite Aid. Among the companies acquired was Baltimore, Maryland's Read's Drug Store. Expansion into Ohio began in 1987 through the acquisition of Cleveland-based Gray Drug. These were of Grand Rapids, Michigan-based Muir Drug and Remes Drug, along with Lippert Pharmacy of Lowell and Herrlich Drug of Flint one year later, Rite Aid opened stores in Lansing, Michigan through the acquisition of State Vitamin. A 420-store acquisition along the east coast expanded Rite Aid's holdings beyond 2,000 locations.Ī large number of acquisitions brought the chain to the state of Michigan in 1984. 1983 marked a sales milestone of $1 billion. In 1981, Rite Aid became the third-largest retail drugstore chain in the country. Ten years after its first store opened, Rite Aid operated 267 locations in 10 states. Growth and acquisitions Rite Aid store in Tawas City, Michigan Rite Aid is one of Fortune 500's Largest U.S. It moved to the New York Stock Exchange in 1970.

The store expanded into five additional states in 1965 and went public as Rite Aid in 1968.

The first store was called Thrift D Discount Center. History Rite Aid logo used from 1979 to 2020Īlex Grass founded the Rite Aid chain in Scranton, Pennsylvania, in September 1962, after marrying into Harrisburg Pennsylvania's Lehrman family in the early 1950s. On September 19, 2017, the Federal Trade Commission (FTC) approved a fourth deal agreement for Walgreens to purchase 1,932 stores from Rite Aid for $4.38 billion total. However, on June 29, 2017, over fear of antitrust regulations, Walgreens Boots Alliance announced it would buy roughly half of Rite Aid's stores for $5.18 billion. In late 2015, Walgreens announced that it would acquire Rite Aid for $17.2 billion pending approval. Rite Aid is publicly traded on the New York Stock Exchange under the symbol RAD. Īfter several years of growth, Rite Aid adopted its current name and debuted as a public company in 1968. 148 in the Fortune 500 list of the largest United States corporations by total revenue. It was founded in 1962 in Scranton, Pennsylvania, by Alex Grass under the name Thrift D Discount Center. Rite Aid Corporation is an American drugstore chain based in Philadelphia, Pennsylvania.

Rite aid pharmacy scheduler