Among the companies acquired was Baltimore, Maryland's Read's Drug Store. Expansion into Ohio began in 1987 through the acquisition of Cleveland-based Gray Drug. These were of Grand Rapids, Michigan-based Muir Drug and Remes Drug, along with Lippert Pharmacy of Lowell and Herrlich Drug of Flint one year later, Rite Aid opened stores in Lansing, Michigan through the acquisition of State Vitamin. A 420-store acquisition along the east coast expanded Rite Aid's holdings beyond 2,000 locations.Ī large number of acquisitions brought the chain to the state of Michigan in 1984. 1983 marked a sales milestone of $1 billion. In 1981, Rite Aid became the third-largest retail drugstore chain in the country. Ten years after its first store opened, Rite Aid operated 267 locations in 10 states. Rite Aid store in Hurricane, West Virginia in June 2006. On September 19, 2017, the Federal Trade Commission (FTC) approved a fourth deal agreement for Walgreens to purchase 1,932 stores from Rite Aid for $4.38 billion total. ![]() ![]() However, on June 29, 2017, over fear of antitrust regulations, Walgreens Boots Alliance announced it would buy roughly half of Rite Aid's stores for $5.18 billion. In late 2015, Walgreens announced that it would acquire Rite Aid for $17.2 billion pending approval. Rite Aid is publicly traded on the New York Stock Exchange under the symbol RAD. After several years of growth, Rite Aid adopted its current name and debuted as a public company in 1968. Rite Aid began in 1962, opening its first store in Scranton, Pennsylvania it was called Thrift D Discount Center. 150 in the 2020 Fortune 500 list of the largest United States corporations by total revenue. It was founded in 1962 in Scranton, Pennsylvania, by Alex Grass under the name Thrift D Discount Center. ![]() Rite Aid Corporation is an American drugstore chain based in Camp Hill, Pennsylvania.
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