Rite Aid Announces Plan to Acquire Bartell Drugs

Rite Aid has announced a plan to acquire Bartell Drugs, a family-owned company founded in 1980 that fills approximately 5.5 million prescriptions annually across 67 stores in Washington state.

“For more than a century, Bartell’s has been an integral part of the fabric of Seattle and neighboring communities serving families with pharmacy services while promoting the health and well-being of local communities,” said Rite Aid President and CEO Heyward Donigan in a press release. “The acquisition of Bartell’s fits perfectly into and accelerates our RxEvolution strategy, as our companies share a commitment to total health and wellness, the importance of the pharmacist as a trusted health advisor, and the critical role the neighborhood pharmacy plays.”

Under the $95 million deal, Bartell Drugs’ stores will join 69 existing Rite Aid locations in the Seattle area and will continue to operate under the Bartell Drugs name. According to a press release, the acquisition aims to meet consumers’ holistic health goals in the Seattle area while growing the role of pharmacists in their communities.

“Looking forward to the future with Rite Aid, we are excited about the opportunity to expand upon our mission to be the best neighborhood drug store in the Pacific Northwest,” said Bartell Drugs Chairman George D. Bartell in the press release. “Rite Aid’s vision fits well with what we think will best serve the needs of our customers. This is a day to celebrate the 130-year success story of Bartell Drugs, while eagerly anticipating the future.”

REFERENCE

Rite Aid to Acquire Bartell Drugs [news release]. Rite Aid; October 7, 2020. https://www.riteaid.com/corporate/news/-/pressreleases/news-room/2020/rite-aid-to-acquire-bartell-drugs. Accessed October 7, 2020.