Dramatic changes are afoot at the third-largest drugstore chain in the U.S. In 2017, Rite Aid agreed to sell nearly 2,000 pharmacies to Walgreens. And in February, grocery giant Albertsons (No. 157 on the Global 500) said it would buy the rest of Rite Aid, creating an $83-billion-in-revenue behemoth, though some shareholders have indicated that they oppose the deal. Rite Aid currently has around 2,600 pharmacies, less than rival chains Walgreens and CVS, but the combined company is expected to have more than 4,000 pharmacies. Plans to generate new revenue involve the merger of rewards programs, in addition to selling Albertsons products in Rite Aid stores.
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