Walgreen's Is Purchasing Rite Aid

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Old 10-28-2015, 07:20 AM
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Walgreen's is purchasing Rite Aid

NEW YORK (AP) -- Walgreens is buying rival Rite Aid for about $9.41 billion in cash, creating a drugstore giant with nearly 18,000 stores around the world.

The deal combines the largest and third-largest U.S. drugstore chains, based on store counts. And it makes one of the world's largest pharmaceutical buyers even bigger at a time when other key health care players like insurers and drugmakers also are expanding through multi-billion dollar deals.

Walgreens said it will pay $9 for each share of Rite Aid Corp. That's a 48 percent premium to Rite Aid's closing price of $6.08 Monday. Shares of both companies jumped Tuesday after The Wall Street Journal first reported the deal.

The companies said the deal is worth $17.2 billion, when debt is included.

Walgreens Boots Alliance Inc. has more than 13,100 stores around the world. Rite Aid, which is based in Camp Hill, Pennsylvania, has more than 4,600 stores in the U.S.
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The companies expect the deal to close in the second half of next year, although given that it is combining the No. 1 and No. 3 players in its industry, it could draw close scrutiny from anti-trust regulators.

It comes less than year after Walgreens bought European health and beauty retailer Alliance Boots. Besides its namesake stores, Deerfield, Illinois-based Walgreens also owns Duane Reade stores in the U.S.

A combination with Rite Aid will give Walgreens additional purchasing power in negotiating prices with drug companies, a hot topic given the rapid rise in cost for some prescriptions.

Adding Rite Aid's stores could also help Walgreens lower price for its customers because its growing volume of prescriptions would put it in a better position in talks with drug providers.

Rite Aid stores will initially keep its name after the deal closes, Walgreens said, but that may change over time.
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  #2  
Old 10-28-2015, 09:46 AM

RE: Walgreen's is purchasing Rite Aid

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Very sad about this. Rite Aid's Plenti program is awesome and RA has become my favorite drug store since I returned to them a few months after they got rid of their +Ups. I hope they keep the Plenti program and the 20% gold status discount. But even if they do, that's one less drug store to find deals.
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Old 11-03-2015, 12:03 PM

RE: Walgreen's is purchasing Rite Aid

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I spoke to the manager at my RA today about this, she said eventually all RA will be converted over to wags and we will be using Walgreen's point program. The only good thing I see about this, is we would not have to wait 24 hrs to use our rewards! My personal thought process on this, is Walgreen's will most likely be implementing a easier way of getting the rewards if they want RA customer's to shop there.
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Old 11-04-2015, 11:42 PM

RE: Walgreen's is purchasing Rite Aid

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When the day comes for a total change there has to be stores that will be closing. They will not have two Walgreen's with the same stock to be sitting across the street from each other or just a block or so away. Logically when the time comes to change the "Rite Aid" stores to Walgreen's signage and goods that the Rite Aid stores too close to Walgreen's will have to be sold. If I were an employee at the Rite Aid stores I'd feel very nervous about the acquisition.
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Old 11-07-2015, 08:10 AM

RE: Walgreen's is purchasing Rite Aid

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Quote:
Originally Posted by endlesoul View Post
They will not have two Walgreen's with the same stock to be sitting across the street from each other or just a block or so away.
I see plenty of DD and Starbucks across the street from one another. LOL

In all seriousness it could depend on the hold that CVS has in whichever places there are Wags/ RAs across the street from one another. There could be scenarios where its better to have two Wags across the street from one another rather than yield one half of the street to CVS. Sure, there's more overhead than a coffee joint however the potential $$ to be made from RX is more too.

Anyone know the timeline that this deal should be approved or shot down by the feds?
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Old 11-07-2015, 05:16 PM

RE: Walgreen's is purchasing Rite Aid

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Originally Posted by monkeydawn View Post
Anyone know the timeline that this deal should be approved or shot down by the feds?
Everything I've seen says no sooner than the 2nd half of 2016 - so that would be at least July (which is why it was funny that people somewhere were worried about buying all the Black Friday deals and what they would do with the points if the program changed).

Not to mention that the article at the top says they will initially keep both names.
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Old 11-07-2015, 07:18 PM

RE: Walgreen's is purchasing Rite Aid

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A lot of business are merging or buying each other out, I too would be worried if I were a Rite Aid employee
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Old 11-07-2015, 11:46 PM

RE: Walgreen's is purchasing Rite Aid

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Quote:
Originally Posted by endlesoul
When the day comes for a total change there has to be stores that will be closing. They will not have two Walgreen's with the same stock to be sitting across the street from each other or just a block or so away. Logically when the time comes to change the "Rite Aid" stores to Walgreen's signage and goods that the Rite Aid stores too close to Walgreen's will have to be sold. If I were an employee at the Rite Aid stores I'd feel very nervous about the acquisition.
You'd be surprised. They recently built a Walgreens at 34th & Slide here. There's already one at 50th and one at 4th & Slide. They didn't close either! The drive time from 4th to 50th is maybe 3 minutes.

We never had Rite Aid here. Guess we never will!
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Old 11-08-2015, 09:44 AM

RE: Walgreen's is purchasing Rite Aid

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I don't have any Rite Aids in my area, but I always saw great deals from them from couponing sites. I guess I will never see those deals after all. :/
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Old 11-08-2015, 10:40 PM

RE: Walgreen's is purchasing Rite Aid

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CVS bought Target pharmacies.
Walgreens is buying Rite Aid.

Will there actually be stand alone pharmacies?
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Old 11-09-2015, 02:15 AM

RE: Walgreen's is purchasing Rite Aid

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Quote:
Originally Posted by ReuschHome
CVS bought Target pharmacies. Walgreens is buying Rite Aid. Will there actually be stand alone pharmacies?
We have a few individually owned pharmacies here but they are horribly expensive and never take my insurance.
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Old 11-11-2015, 07:53 PM

RE: Walgreen's is purchasing Rite Aid

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We had a small 3 store family chain called Linds one is still open. Rite Aid bought one last year and this past summer they bought the only one in a small town where I live and promptly closed it with the provision that NO others would open ( how the heck does that happen) any way it was right across from the hospital and we have 3 assisted living type facilities with varying levels of care. Rite aid was "very kind" and transferred all scripts to the Rite Aid 15 miles away many of these folks have no transportation and the transit is on the hour only with limited stops. The hospital is now trying to figure out a way to open the hospital pharmacy to the public. In the next town is a stand alone but other than that we have the base,Walgreens,Rite Aid,Walmart and Safeway. These buy outs suck.













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Originally Posted by ReuschHome View Post
CVS bought Target pharmacies.
Walgreens is buying Rite Aid.

Will there actually be stand alone pharmacies?
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Old 11-20-2015, 01:01 AM

RE: Walgreen's is purchasing Rite Aid

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This sucks!!!! I stopped shopping at wags after they basically converted RR program to points, 'cause instead of moneymakers every 2-3 weeks, (I remember 1 week I had a profit of 200RR right before christmas - bought all my xmas presents for my kids on wags' black friday that year using those RR) now you have to spend about 10x more to get a measly amount back in rewards. Right now I spend on average about 3x what I get back in rewards from right aid...I'd have to spend 3+x that to get the same amount in rewards at wags
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Old 11-29-2015, 02:18 PM

RE: Walgreen's is purchasing Rite Aid

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I'm surprised that the federal trade commission is allowing this as competition keeps prices low and that is what all the rewards programs feed on. If you noticed that after Office Depot and Office Max merged, almost immediately, all the rewards stopped. The logic behind allowing the merger and not considering them monopolies is since the age of the internet, they considered online resources the other sources of competition. The FTC should get their act together and do what we pay them for (with our tax dollars).

Last edited by lutherandj; 11-29-2015 at 02:18 PM. Reason: grammar
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Old 11-29-2015, 02:46 PM

RE: Walgreen's is purchasing Rite Aid

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Originally Posted by lutherandj View Post
I'm surprised that the federal trade commission is allowing this as competition keeps prices low and that is what all the rewards programs feed on. If you noticed that after Office Depot and Office Max merged, almost immediately, all the rewards stopped. The logic behind allowing the merger and not considering them monopolies is since the age of the internet, they considered online resources the other sources of competition. The FTC should get their act together and do what we pay them for (with our tax dollars).
I suppose (with the office scenario above) they also took into account that there is still Staples as a competitor to the OD/OM combo.

Which would be similar here - CVS as a competitor to the Walgreens/Rite Aid combo.
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