Rite Aid Measures Acquisition Store Closings

CAMP HILL, PA-Rite Aid executives still have yet to determine the number of stores they plan to close overall as a result of the drugstore chain’s $2.6-billion acquisition of 1,850 Brooks and Eckerd stores from the Jean Coutu Group.

“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.