Rite Aid Pharmacy To Transition To Walgreens

According to a representative from New Martinsville’s Rite Aid facility, the Rite Aid pharmacy will transition to Walgreens on Thursday, Feb. 8. The pharmacy will shut down that day at 5 p.m.

In September 2017, Walgreens Boots Alliance, Inc. announced that it had secured regulatory clearance for an amended and restated asset purchase agreement to purchase 1,932 stores, three distribution centers and related inventory from Rite Aid Corporation for $4.375 billion in cash and other consideration. The amended and restated purchase agreement between the parties updated the terms of the agreement with Rite Aid announced in June 2017. The transaction had been approved by the boards of directors of Rite Aid and Walgreens Boots Alliance and was still subject to other customary closing conditions. Store purchases were to begin in October 2017, with completion in spring 2018.

According to Jim Cohn, a media representative for Walgreens, “Upon transfer of ownership, the store will have a Walgreens pharmacy, but the front of the store will continue normal business operations under the Rite Aid brand. So, it’ll be a Walgreens-owned Rite Aid store and the external store signs will remain Rite Aid.

“However, there will also be a sign on the window of the door indicating this store is owned by Walgreens. There will also be a sign at the pharmacy letting patients know this is a Walgreens pharmacy.”

Cohn stated, “Once we have completed the acquisition of stores under the agreement, further store conversions to the Walgreens brand will be done in phases over time.”