"Obviously the opportunity is there because of the overlap" with Rite Aid's current portfolio, said Mary Sammons, the company's president and chief operating officer, during its Q4 conference call. "We will make every effort to do these in a timely manner."

Rite Aid management has so for only identified 24 stores it will divest as a result of the acquisition, which they expect to close by the end of next month. The closing will bring Rite Aid to about 5,000 East Coast units.

Right after the end of the Rite Aid's second quarter, management plans to have a 23-store pilot program in place to test the conversion of acquired stores into the Rite Aid banner. They predict that 50% of the new units will be converted by the end of its fiscal year 2008, which started March 4, and the rest completed by the next fiscal year's second quarter.