Hudson Valley Rite Aids Morph Into Walgreens
Several Hudson Valley Rite Aid locations are now Walgreens as part of a $4.4 billion deal. Hudson Valley One reports the Highland, New Paltz and Stone Ridge locations are part of the deal, but few changes are expected for now.
The original proposal was an all-out purchase of Rite Aid's 4,600 stores by Walgreens but that deal was deemed unfair by regulators. A re-worked deal saw the transition of more than 1,600 locations earlier this month. Another 300 properties will transition to Walgreens in the coming months.
For now, the Rite Aid storefronts will stay up in the three Hudson Valley stores, but a Walgreens pharmacy has already been added. When the deal is fully completed, the Rite Aid signage is expected to come down.
The other half of the company was purchased by the Albertsons supermarket chain and is expected to join with them to form a new unified company.
Some 600 Rite Aid locations are expected to be closed eventually, but only those within a mile of existing Walgreens stores.