Rite Aid announces continued progress in sale of assets to WBA

Rite Aid said Thursday that is has transferred 1,114 stores and related assets to Walgreens Boots Alliance (WBA) as part of a larger deal with the company. In all, WBA will purchase 1,932 stores, 3 distribution centers, and related inventory from Rite Aid for nearly $4.4 billion in cash. "We have now completed more than half of the planned store transfers and remain on track to finish the process in the spring of this year," said Rite Aid Chairman and CEO John Standley. "As we work to complete this process, we remain focused on opportunities to build our business while delivering a great experience to our customers and patients and driving value for our shareholders."