8 October 2020 - Deborah Wilkes
Retailer Rite Aid is expanding its US presence by acquiring regional pharmacy chain Bartell Drugs for USD95 million.
Founded in 1890, family-owned Bartell Drugs generates annual sales of more than USD550 million from 67 stores in its home city of Seattle and throughout Washington state.
Rite Aid said it would continue to operate the business under the Bartell Drugs name.
Heyward Donigan, Rite Aid’s president and chief executive officer, said the two companies shared a “commitment to total health and wellness, the importance of the pharmacist as a trusted health adviser and the critical role the neighbourhood pharmacy plays”.
The transaction is expected to close by the end of February 2021.
Rite Aid has more than 2,400 retail pharmacy locations in 18 US states, including 69 in the Seattle area.