DEERFIELD, IL & CAMP HILL, PA - It seems, despite much whisper and rumor, neither Kroger nor Albertsons will be buying up hundreds of Rite Aids as the chain looks to be acquired by Walgreens Boots Alliance.

865 stores are being sold to drug store chain Fred's Inc. for $950 million as Walgreens looks to attain the Federal Trade Commission’s (FTC) blessing for its grander purchase of the entire Rite Aid banner for upwards of $9.4 billion.

"With this agreement, we are moving ahead with important work necessary to obtain approval of our acquisition of Rite Aid,” said Walgreens Boots Alliance’s Executive Vice Chairman and CEO, Stefano Pessina, in a press release. “We look forward to continuing to provide our customers and patients with the highest level of care and attention."

As we reported previously, both Kroger and Albertsons were speculated to be in the running for the several hundred stores as each looks to expand further. These speculative expansions for the retailers were based upon the geographical possibilities presented by the Rite Aid stores.

In the end, however, Pessina said that the company as pleased to find an “experienced pharmacy operator," for the stores sold.

Walgreens noted that it is actively engaged in discussions with the FTC regarding the transaction and working toward a close of the Rite Aid acquisition. Should all go through smoothly, the deal is expected to close in early calendar 2017.

In total, Rite Aid has about 4,500 locations (minus those just sold) to add to Walgreens’ current count of 8,137 stores in the U.S.

Stay tuned as we embark on a new year with new opportunities for growth in retail and beyond.

Walgreens