October 8, 2020 – Rite Aid has entered into an agreement to acquire Bartell Drugs for $95 million. Founded in 1890, family-owned Bartell Drugs generates over $550 million in revenue and fills approximately 5.5 million prescriptions annually across its 67 stores in Seattle and the surrounding counties in Washington.
Bartell Drugs’ stores join Rite Aid’s existing 69 Seattle area stores and will continue to operate under the Bartell Drugs name.
The transaction is expected to be accretive to Rite Aid’s adjusted earnings per share after the first 12 months following the closing of the transaction. The transaction is expected to close by the end of Rite Aid’s 2021 fiscal year, subject to regulatory approvals and other customary closing conditions.