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Rite Aid seeking bicoastal presence through Thrifty PayLess purchase.

This article was originally published in The Rose Sheet

Executive Summary

RITE AID SEEKS TO EXPAND GEOGRAPHIC REACH WITH THRIFTY PAYLESS: Rite Aid would be the leading chain drugstore player on both coasts after a proposed acquisition of Thrifty PayLess for $1.3 bil. in stock and about $890 mil. in assumed debt. The purchase of the Western U.S. drug firm will result in a Rite Aid with "more than 3,500 drugstores" in 26 states and Washington, D.C., Rite Aid Chairman Martin Grass said during an Oct. 14 teleconference announcing the deal.
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