Albertsons and Rite Aid to Merge

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Albertsons and Rite Aid plan to merge, with Rite Aid top executive John Standley as CEO and Albertsons chairman and CEO Bob Miller as chairman. Terms of the deal were not disclosed.

As at the very top there will be executives from both firms on the management team, which will maintain joint headquarters in Boise, ID and Camp Hill, PA. A combined name and rebranding will be announced when the transaction closes.

The integrated company will have approximately 4,900 locations, including 4,350 pharmacies and 320 clinics across 38 states and the District of Columbia, serving more than 40 million customers a week. Most of the Albertsons pharmacies will be rebranded as Rite Aid, and the company will continue to operate standalone Rite Aid pharmacies. Rite Aid’s Pharmacy Benefit Management Company, EnvisionRXOptions, will be used as a lever to drive customer growth.

The merger will also allow greater utilization of data analytics and integrated loyalty programs, the companies said. The new entity will also expand its omnichannel operations, including multiple in-store formats, digital channels and same-day food and prescription delivery through its Drive Up and Go program.

 

 

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