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An Eckerd Pharmacy in Rochester, Pennsylvania, pictured shortly before its conversion into a Rite Aid in August 2007. This location closed in October 2023. [13] On August 23, 2006, The Wall Street Journal announced that Rite Aid would acquire 1,858 Eckerd Pharmacy and Brooks Pharmacy stores from Jean Coutu for US$3.4 billion (~$4.94 billion in ...
In June 2007, a 109-year-old retail legacy came to an end. Rite-Aid Corporation completed its acquisition of Eckerd Pharmacy by purchasing Jean Coutu USA for $2.3 billion in cash plus $1 billion ...
The company previously responsible for operating the Brooks chain, The Jean Coutu Group (PJC) USA, Inc., along with Eckerd Corporation, remained active in-name-only subsidiaries of Rite Aid, as shown in the latter company's October 2023 Chapter 11 bankruptcy filings, despite the conversion of the Brooks and Eckerd chains in 2007 and the sale of ...
Acquisitions of Harco, Inc. and K&B, Inc. brought Rite Aid into the Gulf Coast area. In the 1990s, Rite Aid partnered with Carl Paladino's Ellicott Development Co. to expand the company's presence in upstate New York. [24] In the late 1990s, Rite Aid performed poorly, and its stock dropped precipitously from $30 to $4.40. [25]
In 2006, Rite Aid bought the Eckerd chain in a deal valued at $3.4 billion. In 2018, Walgreens bought 1,932 Rite Aid locations and three distribution centers for $4.4 billion.
9155 Telegraph Road in Taylor. 1243 U.S. 31 South in Manistee. 29447 Ford Road in Garden City. 2838 East Court Street in Flint. 1900 East 8 Mile Road in Detroit. 36485 Garfield Road in Clinton ...
Also shown was a location of Thrift Drug's nominal successor (through Eckerd) and fellow Pennsylvania pharmacy, Rite Aid. Due to Rite Aid's connection to Thrift Drug through Eckerd, Rite Aid, as well as CVS which also purchased many Eckerd stores, accept JCPenney credit cards despite having otherwise had no corporate affiliation with JCPenney.
Rite Aid said in court papers that junior creditors would be receiving $47.5 million as a "gift," which would not have been possible without the settlements with higher-priority creditors.