Rite Aid, Walgreens cancel merger, agree to store & distribution center sale

RiteAid Distribution Center

SPARTANBURG Co., SC (WSPA) – Rite Aid and Walgreens have agreed to cancel a proposed merger, but Walgreens will buy more than 2,000 stores and the Spartanburg County Rite Aid distribution center.

A total of 2,186 Rite Aid stores in the Northeast, Mid-Atlantic, and Southeast, along with three distribution centers, are being sold to Walgreens.

The Spartanburg County distribution center is among the three being sold.

In a press release, Rite Aid did not specify which stores are being included in the sale.

The deal has been approved by both companies.

Walgreens will pay a $325 million termination fee in addition to the $5.175 billion for the stores and distribution centers.

The 900,000 square-foot distribution center is located along Business 85 near Parris Bridge Road and Highway 221 in Spartanburg County.

The building opened in June 2016.

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