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Big Law

Rite Aid Acquiring Seattle-Area Bartell Drugs for $95M

TOPLINE

Rite Aid agreed to acquire the Seattle-area family-owned drugstore chain Bartell Drugs for $95 million, seeking to add scale three years after the Camp Hill, Pa.-based company sold almost half its stores to Walgreens after a failed merger, leaving it in a weaker position in an industry that is consolidating.

KEY FACTS

George D. Bartell, co-owner and chairman of the company his grandfather founded in 1890, told the Seattle Times the company believed the acquisition was the “only answer” because it was getting harder for local businesses to compete.

Read the source article at forbes.com

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