Kroger Co. may end up being the prime bidder for some Rite Aid or Walgreens drug stores that will need to be sold when the two companies are expected to finally merge later this year.
According to a Bloomberg report, Kroger, who is the nation’s largest operator of traditional supermarkets, is a potential buyer of some of the 500 stores that will likely be put up for sale.Kroger is not just a grocery chain but also is the nation’s fifth-largest pharmacy opertor with 2,200 in store pharmacies.
When Walgreens initially announced the deal, the company said it would be willing to sell up to 1,000 Rite Aid stores. Experts now believe that the company may only need to sell about 500 and 4,600 Rite Aid stores.
Kroger has so fasr remained silent on the matter.
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.