Rite Aid has just announced that they will be acquiring Bartell Drugs for a purchase price of $95 million.
Both companies “share a commitment to total health and wellness, the importance of the pharmacist as a trusted health advisor and the critical role the neighborhood pharmacy plays,” said Heyward Donigan, president and chief executive officer, Rite Aid, in a press release.
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Bartell Drugs has been a Seattle staple since 1890 and has expanded to 67 stores in Seattle and throughout King, Snohomish, and Pierce counties.
“Looking forward to the future with Rite Aid,” said George D. Bartell, Chairman of Bartell Drugs, in a press release.
“We are excited about the opportunity to expand upon our mission to be the best neighborhood drug store in the Pacific Northwest… This is a day to celebrate the 130-year success story of Bartell Drugs, while eagerly anticipating the future.”
The transaction is expected to close by the end of Rite Aid’s 2021 fiscal year.