Rite Aid to sell 1,000 pharmacy assets to CVS, Walgreens and others

By Sabrina Valle - 5/15/2025

</head><body><p>By Sabrina Valle</p><p>(Reuters) -Bankrupt U.S. pharmacy chain Rite Aid on Thursday said it agreed to sell pharmacy assets from more than 1,000 store locations in separate transactions to CVS Pharmacy, Walgreens, Albertsons, Kroger and Giant Eagle, among others. </p><p>CVS Pharmacy will buy and operate many Rite Aid and Bartell Drugs stores in Washington, Oregon and Idaho, Rite Aid said in a filing. </p><p>Rite Aid stores will remain open, and customers can continue to use pharmacy services, including prescription refills and immunizations, without interruption, it said.</p><p>The sale includes prescription files and other goods, a person familiar with the agreements said. </p><p>Walgreens declined to comment. The other bidders did not immediately respond to requests for comment. </p><p>Earlier this month, Rite Aid filed for bankruptcy for the second time in less than two years, after poor performance in its retail business made it difficult for the company to maintain sufficient cash flow and restock its retail inventory. </p><p>The company has received court approval to pursue a rapid-fire sale of its pharmacy business. Rite Aid is scheduled to conduct a hearing to approve the sales on May 21. The sales will remain subject to regulatory notices and approvals. </p><p>The Pennsylvania-based company entered bankruptcy with over $2 billion in debt and has warned employees about likely job cuts. Rite Aid Chief Executive Matt Schroeder said on Thursday the company would try to preserve jobs during the transition. </p><p>"These agreements ensure our pharmacy customers will experience a smooth transition while preserving jobs for some of our valued team members," Schroeder said in a note. </p><p>Bloomberg had previously reported on CVS' bid. </p><p> (Reporting by Sabrina Valle in New York and Christy Santhosh in Bengaluru; Additional reporting by Dietrich Knauth and Juveria Tabassum; Editing by Leroy Leo, Cynthia Osterman and Tom Hogue)</p></body></html></p> <div id="news-wrapper"> <div class="thumbnail additional-resources client-content-image-box"> <div class="box-image" style="background-image: url(/images/home/news.jpg);"></div> <div class="caption"> <h3>Nationwide News</h3> <div> <p><a href='/mh/news-article-detail.aspx?id=155564'>NJ AG investigating after Fort Lee police shoot woman in ‘mental health crisis’</a></p> <p><a href='/mh/news-article-detail.aspx?id=155555'>How understaffing, mental health failures led to ‘mounting crisis’ in Richland County jail</a></p> <p><a href='/mh/news-archive.aspx'>News Archive</a></p> </div> </div> </div> </div> </div> </div> </div> </section> </div>  <footer class="footer">  <div class="clearfix footerInfo"> <div class="container"> <div class="row"> <div class="col-sm-7 col-xs-12"> <div class="footerText"> <a href="http://www.trilogyir.com/" target="_blank" class="footerLogo"><img src="/images/Noc-Logo-white.png" alt="Footer Logo" style="width: 200px;"></a> <div class="genericContent" id="landingPageText"> <p>The Network of Care for Mental/Behavioral Health is an online information portal for individuals, families and social service agencies concerned with community mental health services, substance use treatment programs and help for people with developmental disabilities.</p> </div> <h3 id="lblTechAssistance" style="color: #fff; 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Rite Aid to sell 1,000 pharmacy assets to CVS, Walgreens and others