As Rite Aid prepares for its pending merger with supermarket operator Albertsons, the drug store chain posted a net loss in the first quarter.
Rite Aid Corp. has transferred 1,114 stores and related assets to Walgreens Boots Alliance and has received cash proceeds of $2.42 billion.
Rite Aid’s third quarter was impacted by the continuing sale and transfer of stores and related assets under the acquisition deal with Walgreens Boots.
Rite Aid has completed the first phase of its amended asset purchase agreement with Walgreens Boots Alliance. The company transferred 97 Rite Aid stores and related assets to Walgreens.
Walgreens Boots Alliance has secured regulatory clearance for its amended agreement to purchase 1,932 stores, three distribution centers and related inventory from Rite Aid Corporation for $4.375 billion in cash and other considerations.