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The future of area Rite Aid locations was not announced as the company agreed to sell nearly 1,000 stores in a $950 million deal.
Rite Aid announced Tuesday they are selling 865 of its retail locations in the eastern and western portions of the country to Fred’s Inc., a Tennessee-based operator of more than 650 discount stores and pharmacies.
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Rite Aid operates two locations in Bristol Borough, one in Bristol Township, three in Falls Township and two in Middletown.
The exact list of what stores are part of the sale were not released as of Tuesday evening.
Rite Aid officials said in a statement that employees at stores sold to Fred’s are expected to keep their jobs. The stores are also expected to keep the Rite Aid brand for a time.
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“We look forward to working closely with Fred’s to ensure a smooth, successful transition for our customers, patients and associates in the divested stores,” Rite Aid Chairman and CEO John Standley said in a statement.
The move to sell 865 stores is part of central Pennsylvania-based Rite Aid’s effort to close a deal to be acquired by Walgreen Boots Alliance for $9.5 billion. The sale of the stores to Fred’s is in response to concerns raised by the Federal Trade Commission (FTC).
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Illinois-based Walgreens operates two stores in Bristol Township and one location in Middletown. Several of the Rite Aid stores are nearby Walgreens locations.
Walgreen Boots Alliance hopes to be able to close their merger with Rite Aid in the first quarter of 2017.
