GRAND RAPIDS, Mich. — Spartan Stores here last week said 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 additional locations, in moves 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. Spartan said it was ...
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