Walgreens agreed to buy more than 1,900 Rite Aid stores and three
distribution centers for $4.4 billion, a deal that leaves Rite Aid a
much smaller chain operating in eight …
Last year Walgreens agreed to buy more than 1,900 Rite Aid stores and three distribution centers for $4.4 billion, a deal that leaves Rite Aid a much smaller chain operating in eight states.
The purchase included the two Rite Aid stores (and pharmacies) in Cleveland.
Among those 1,900-plus stores, Walgreens announced it would be closing approximately 600, including the two local stores.
The time for these closures has arrived.
The pharmacy for the Rite Aid store on Paul Huff Parkway, according to employees, will be closing on Wednesday, Aug. 22, while the remainder of this store will shut down the first week of September.
Cleveland's second Rite Aid store and pharmacy, at the intersection of 25th and Keith streest, will be closing on Thursday, Aug. 30.
Several employees at the two Cleveland stores will be transferring to Rite Aid or Walgreens stores at other locations. The Rite Aid in Ooltewah remains open.
Patrons with pharmacy accounts at the two closing stores will have those records transferred to nearby Walgreens.
Paul Huff records will go to the Walgreens in front of Walmart on Keith Street, while records from the 25th Street store will be moved to the Walgreens at the corner of 25th and North Ocoee.
Walgreens announced earlier that the transition of stores will take place in two phases. The first phase, ownership, which started last January, was to be completed in the spring.
Stores have continued to display Rite Aid logos until Walgreens displays are in place.
According to corporation officials, the full integration and branding won’t be completed until 2020, and a few Walgreens stores are also being closed.
The locations being closed were chosen because of an overlap with another Rite Aid or Walgreens location, executives said.
“The vast majority being closed are within one mile of another drugstore that we own," said Alexander Gourlay, WBA’s co-chief operating officer. This includes the two closing Cleveland stores.
No plans have been announced for the soon-to-be vacant buildings.
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