GRAND RAPIDS, Mich. — Spartan Stores here said Thursday that it has reached an agreement to sell 12 The Pharm drug stores to Rite Aid, and that it was in negotiations to sell two remaining locations, in a move that would exit Spartan from the stand-alone drug store business. RiteAid, Camp Hill, Pa., is expected to pay $12.8 million in cash, plus the value of inventory, for certain assets of the 12 locations, in a deal that is set to close in 45 to 60 days, Spartan said. The 14 stores ...
REGISTER TO VIEW THIS ARTICLE - Register for a Free Account
Why Register for FREE?
Registering for content on Supermarket News will give you INSTANT access to invaluable articles and media content that industry professionals rely on. You will have access to our special reports, feature articles, and industry analysis. It’s FREE, easy and quick. What are you waiting for! In addition you will also receive a complimentary copy of SN's salary survey sent to you by email.
Attention Paid Print Subscribers: While you have already been granted free access to SN we ask that you register now. We promise it will only take a few minutes! Or visit your profile and add your print magazine account number and zip code.