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Article: Rite Aid transforms NY market. (New York)
- Article from:
- Chain Drug Review
- Article date:
- July 31, 1995
CopyrightCOPYRIGHT 1995 Racher Press, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CAMP HILL, Pa. - By agreeing to purchase Pathmark Stores Inc.'s entire 30-unit chain of conventional drug stores, Rite Aid Corp. has vaulted itself into the No. 1 position in the greater New York drug store market. The company currently operates 51 outlets in the area, and the Pathmark purchase will raise the total number of Rite Aid stores there to 80 (one of the acquired Pathmark units is in New Jersey).
The deal, terms of which weren't disclosed, will move Rite Aid ahead of Duane Reade, which operates some 60 units in greater New York. "This significant acquisition of Pathmark's drug stores is a major component of Rite Aid's strategy to establish a leading ...