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Thrifty PayLess Holdings, Inc. was a pharmacy holding company that owned the Thrifty Drugs and PayLess Drug Stores chains in the western United States. The combined company was formed in April 1994 when Los Angeles–based TCH Corporation, the parent company of Thrifty Corporation and Thrifty Drug Stores, Inc., acquired the Kmart subsidiary PayLess Drug Stores Northwest, Inc. [1] At the time ...
Avis Budget Group, Inc. is an American car rental agency holding company headquartered in Parsippany, New Jersey.It is the parent company of several brands including Avis Car Rental, [3] Budget Rent a Car, [4] Budget Truck Rental, Payless Car Rental, and Zipcar.
In 1996, Rite Aid acquired Thrifty PayLess, a 1,000-store West Coast chain. The acquisition of Thrifty PayLess included the Northwest-based Bi-Mart membership discount stores, which was sold off in 1998. Acquisitions of Harco, Inc. and K&B, Inc. brought Rite Aid into the Gulf Coast area.
In 1992, Green's firm paid $40 million for Thrifty Drugs and in 1994, they purchased Payless Drugs for $1.2 billion, merging the two companies to form the largest drugstore chain in the Western U.S. with more than 1,080 outlets, Thrifty Payless. [4] In April 1996, Thrifty Payless went public and then in October 1996, it was sold to Rite Aid for ...
Thrifty Car Rental was established in 1958. [2] [3] The company completed an initial public offering (IPO) of common stock in 1987.It would grow in size by purchasing Ohio-based Snappy Car Rental for US$40,000,000 (equivalent to $98,319,463 in 2023) in May 1989.
In June 1992, PayLess Drug Stores officially acquired the money-losing Pay 'n Save drug stores from Thrifty Corporation. [30] Leonard Green & Partners , a Los Angeles investment firm that specializes in management buyouts agreed to acquire Thrifty Corporation's other division, including Pay 'n Save's Bi-Mart. [ 30 ] Following the sale, the Pay ...
Payless ShoeSource. Finding cheap footwear became a little more difficult in 2019. In February, Payless filed for bankruptcy and said it would close all of its 2,500 U.S. locations. The move came ...
PayLess Drugs was a chain of drug stores acquired by Kmart in 1985 [208] and later sold to TCH Corporation in 1994. [209] The resulting entity, Thrifty PayLess , was acquired by Rite Aid in 1996, which converted all of the PayLess and Thrifty stores into Rite Aid stores in 1999.