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Albertsons to buy Rite Aid in latest Amazon countermeasure

While the prescription drug businesses at pharmacies has been relatively stable, front-of-the-store sales have been in decline. Giant retailers like Walmart Inc. are also looking to play a bigger role.

By Ivan Levingston | Updated on February 20, 2018
Retailers have been under growing pressure from online competitors like Amazon.com Inc., and the corner drugstore has been no exception. (Photo: Shutterstock)

Grocer Albertsons Cos. will buy drugstore chain Rite Aid Corp. in a deal that would accelerate the remaking of the U.S. retail and health-care industries.

The takeover serves several purposes. Rite Aid will get a buyer after a failed merger with another chain last year. Albertsons will add new locations and size amid increasing pressure from online competitors. And the grocer’s private-equity owners will exit their 2013 investment without having to go through an initial public offering in a turbulent market.

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