Rite Aid
| Rite Aid Corporation
|
|
|---|---|
 |
|
| legal form | Incorporated |
| ISIN | US7677548726 |
| founding | September 12, 1962 |
| Seat | Camp Hill , United States |
| management | John T. Standley ( CEO ) |
| Number of employees | 53,100 (2018) |
| sales | 30.215 billion US dollars ( FY 2018) |
| Branch | Retail, pharmacy |
| Website | https://www.riteaid.com/ |
The Rite Aid Corporation is an American pharmacy and drug store chain. The company's headquarters is located in Camp Hill ( Pennsylvania ), near Harrisburg . Rite Aid is the largest drug store chain on the east coast and the third largest in the United States. In 2018, the chain employed 53,100 people in around 2,500 pharmacies and is one of the 100 top-selling companies in the country.
history
Alex Grass founded the company in September 1962 in Scranton, Pennsylvania, where the first pharmacy opened that same year. This was called the Thrift D Discount Center. After several years of growth, Rite Aid took its current name and became a public company in 1968. Ten years after opening the first store, Rite Aid had 267 locations in 10 states. In 1981, Rite Aid finally became the third largest drug store chain in the country, mainly by taking over smaller drug stores. In 1983 sales were for the first time a billion US dollars.
In 2006 it took over the two drugstore chains Eckerd Pharmacy and Brooks Pharmacy from the Canadian parent company Jean Coutu Group for a sum of 3.4 billion US dollars and integrated the two chains into its pharmacy system. With the acquisition, at its peak in 2008, Rite Aid had 5,059 stores in total and employed 112,800 people
In 2017, the takeover of the company by fellow competitor Walgreens Boots Alliance failed due to resistance from the relevant regulatory authorities. Walgreens eventually bought approximately 2,200 Rite Aid stores for $ 4.4 billion, taking over 40% of its businesses.
In 2018, the Albertsons retail chain announced its plan to acquire Rite Aid due to heavy pressure from online retailers . On August 8, 2018, Rite Aid announced that the plan had not convinced shareholders and that the proposed merger would be canceled.
Web links
Individual evidence
- ↑ Fortune 500 Companies 2018: Who Made the List. Retrieved July 13, 2019 (American English).
- ^ Walgreens Wins US Approval for Rite Aid Deal on Fourth Try. Retrieved July 13, 2019 .
- ↑ Albertsons and Rite Aid: Fear of Amazon causes billion dollar merger in the US. Retrieved July 13, 2019 .
- ↑ Lauren Hirsch: Rite Aid and Albertsons agree to terminate their merger agreement. August 9, 2018, accessed on July 13, 2019 .