|
|
Article: RITE AID TO ACQUIRE THRIFTY PAYLESS, INC.;.
- Article from:
- Business Wire
- Article date:
- October 14, 1996
CopyrightCOPYRIGHT 1996 Business Wire. 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)
|
CAMP HILL, PA and WILSONVILLE, OR,--(BUSINESS WIRE)--Oct. 14, 1996--
Strategic Realignment Includes Selling 268 Stores in the Southeast;
Combined Entity Would Have 3,500 Stores and $10 Billion of Revenues
Rite Aid Corporation (NYSE: RAD) today announced that it has entered into a definitive merger agreement to acquire Thrifty PayLess, Inc. (NYSE: TPD), the largest drugstore chain in the western United States. This merger creates a drugstore chain of more than 3,500 drugstores with revenues of approximately $10 billion in 26 states and the District of Columbia. Rite Aid said that the transaction is expected to be accretive to ...