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Walgreens to Purchase 12 Rite Aid Locations
February 05, 2009
Walgreens Agrees to Purchase 12 Rite Aid Locations in San Francisco and Eastern Idaho
DEERFIELD, Ill., Feb. 5, 2009 – Walgreens (NYSE, NASDAQ: WAG) announced today it has signed an agreement to purchase 12 Rite Aid locations, including seven in San Francisco and five in eastern Idaho. Terms of the transaction were not disclosed. While some Walgreens and Rite Aid locations will be combined, Walgreens will have a net increase in the number of locations it operates in both markets once the transaction is completed. Information on specific locations will become available after plans are finalized and employees have been notified. Walgreens anticipates interviewing any Rite Aid employees at the acquired locations who wish to seek employment with the company. Store transitions and any pharmacy patient file transfers are expected to happen by the end of March without any disruption for customers or pharmacy patients.
“Acquiring these San Francisco stores improves our presence in a competitive market and will help us better serve our customers,” said William J. Hose, Walgreens market vice president for San Francisco. “In eastern Idaho, this allows us to add established locations in a strong market. Our pharmacy staffs in both areas will be ready to make the transition as seamless as possible for Rite Aid patients.”
Patients whose prescriptions are being transferred will be notified by letter. Walgreens currently operates 59 stores in San Francisco and 28 throughout Idaho.
Rite Aid stores affected by the transaction include:
· 1300 Bush St.
· 5280 Geary Blvd.
· 1496 Market St.
· 776 Market St.
· 200 W. Portal Ave.
· 1830 Ocean Ave.
· 3931 Alemany Blvd.
· 1000 Pocatello Creek Road, Pocatello
· 960 W. Bridge St., Blackfoot
· 1139 Addison Ave. East, Twin Falls
· 904 E. Main St., Burley
· 1745 W. Broadway St., Idaho Falls