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How Does Rite Aid Fair in the Albertsons Mix?

Just as the dust settled on the Walgreens Boots Alliance-Rite Aid Corp. alliance, the latter made news once again. In late February 2018, supermarket…

Jonathan Hipp
Just as the dust settled on the Walgreens Boots Alliance-Rite Aid Corp. alliance, the latter made news once again. In late February 2018, supermarket operator Albertsons Cos. announced it would acquire the remaining Rite Aid assets, as GlobeSt.com previously reported. The grocer’s goal is to reposition its in-store pharmacies under the Rite Aid brand, while continuing to operate Rite Aid stand-alone retail pharmacy centers.

If all goes according to plan, the $2.6-billion transaction will close in the second half of 2018, resulting in a company that controls 4,900 locations, 4,350 pharmacy counters and 320 clinics in 38 states and Washington DC. Unlike the Walgreens-Rite Aid merger, the Albertsons deal will likely close without too much trouble.

Analysts have gone to great lengths to focus on the acquisition’s benefit to Albertsons. What doesn’t seem to be on the radar, however, is the potential impact on stand-alone Rite Aid stores. Here is our analysis.

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Jonathan Hipp

Jonathan Hipp

Jonathan Hipp began his career in real estate over 25 years ago. In his early years as a broker, he ventured into the net lease industry and quickly began leading the US net lease market, closing over $3 billion in transactions. In 2005, Jon founded Calkain Companies, a company focused solely on net lease investment services. As President and CEO, he has been instrumental in building the firm into one of the leading Net Lease real estate companies, transacting over $12 billion of net lease deal volume over the past 13 years. He has expanded Calkain’s services to include brokerage, advisory, asset management, capital markets, and industry research. He has become a well-known resource, panelist, and speaker at various Net Lease and Industry conferences and is a regular contributor to GlobeSt.com on real estate trends. In June 2015, Jon’s passion for the real estate business was again recognized as he was nominated for the Top Real Estate Player in the DC area by SmartCEO magazine.

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