Walgreens to Close 600 Stores
National drug store chain Walgreens plans to close about 600 locations as part of its $4.38 billion deal to acquire nearly 2,000 stores from Rite Aid.
Most of the closings will be Rite Aid stores, the majority within a mile of another Walgreens-owned store, company spokesman Michael Polzin told the Associated Press. Walgreens hasn't disclosed the exact locations targeted for closure.
Deerfield, Ill.-based Walgreens Boots Alliance Inc. revealed the acquisition plan last month. This plan came nearly two years after Walgreens attempted to acquire Camp Hill, Pa.-based Rite Aid Corp. in full, a deal that faced regulatory resistance.
Store closures will take about 18 months after they start next spring. Walgreens operates more than 13,000 stores globally.