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Thrift/Eckerd merger complete; Thrift can retain only 63 Rite Aid stores in Carolina.

This article was originally published in The Rose Sheet

Executive Summary

THRIFT DRUG's RITE AID STORES ACQUISITION PARED BACK TO 63 South Carolina stores under a proposed Federal Trade Commission consent order signed by Thrifty Drug Nov. 21 and announced by FTC Dec. 9. The J.C. Penney subsidiary had agreed to acquire 190 stores from Rite Aid in North and South Carolina. However, as a condition for approval of its merger with the 1,700-store Eckerd chain, Thrift must divest most of the Rite Aid stores.

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