CVS Pharmacy has agreed to acquire and operate 64 Rite Aid stores in Idaho, Oregon and Washington.
On May 5, Rite Aid announced it had sought Chapter 11 bankruptcy protection and would begin a strategic asset sale.
On May 15, Rite Aid announced that it had entered into a series of sale and pharmacy services transition agreements. The pharmacy assets transition deals cover 1,000 Rite Aid stores across the United States. The acquiring companies included, in addition to CVS, Walgreens, Albertsons, Kroger and Giant Eagle.
CVS has been enacting a restructuring plan that includes strategic store closures. The company announced that it would shutter 271 CVS locations in 2025. However, CVS has a limited presence in the Pacific Northwest, with more stores in Los Angeles than all of Washington state, where the company has the most locations out of the three states where its newly acquired Rite Aids operate.
