Looks like Kroger Co. will be stepping in to help Walgreens complete its acquisition of Rite Aid. The company is expected to buy some of the Walgreens and Rite Aid stores that Walgreens needs to divest.
According to an attorney who told mergers and acquisitions reporting website CTFN, the deal involves multiple buyers for nearly 1,000 stores should be finalized by year-end.
Reports of how many stores are in question have ranged from 500 to 1,000 and many of those are in the Northeast, an area where Kroger doesn’t operate supermarkets.
Disclaimer: We have no position in Kroger Co. (NYSE: KR), Walgreens Boots (NASDAQ: WBA), nor Rite Aid Corporation (NYSE: RAD) and have not been compensated for this article.