Rite Aid has acquired the Dayton Eckerd store and 48 other Eckerd stores in Tennessee as part of its acquisition of the Brooks and Eckerd drugstore chains. With the acquisition, Rite Aid now operates 95 stores in Tennessee.
The acquired stores are part of Rite Aid’s purchase of 1,854 Brooks and Eckerd stores and six distribution centers in 18 states, primarily located on the East Coast and in the mid-Atlantic region. The acquisition gives Rite Aid more than 5,000 stores in 31 states and the District of Columbia, with a strong presence on both the East and West coasts, and makes it the largest drugstore chain on the East Coast.
“This is a very exciting day for Rite Aid, and we are fortunate to have the talented Eckerd associates who work in Tennessee joining our team,” said Mary Sammons, Rite Aid chairman, president and CEO. “We look forward to enhancing the shopping experience at our new stores by bringing the additional products, services and benefits Rite Aid offers.”
Rite Aid said that among the changes customers would start to see shortly in the former Eckerd stores will be more nonpharmacy items for sale, including Rite Aid private brand which saves customers money. In the next few months, customers aged 60 and above will also be able to sign up for Rite Aid’s Living More senior loyalty program, which provides special health and wellness benefits and discounts for seniors.
Brooks Eckerd will be integrated into Rite Aid in phases, including replacing all store systems with Rite Aid state-of-the-art technology and a minor remodel of all the stores. Starting immediately, Rite Aid will fully convert 23 Brooks and Eckerd pilot stores, which represent various store layouts, and integrate the six new distribution centers. Once the pilot store conversion is completed, Rite Aid will begin replacing systems in all of the acquired stores, which is expected to be completed by next March. Some time after its systems are replaced, every acquired store will receive a minor remodel, including upgraded décor and remerchandising. All stores are expected to be converted and re-branded Rite Aid over the next 16 months.
Over the next several years, Rite Aid plans to fully remodel almost all of the Brooks and Eckerd stores, bringing the total investment to upgrade the stores and distribution centers to more than $1 billion. The company will also continue its new store development program with plans to open nearly 1,000 new and relocated stores over the next five years. About Rite Aid
Rite Aid Corporation is one of the nation’s leading drugstore chains and with the now-completed acquisition of Brooks Eckerd has annual revenues of more than $27 billion and more than 5,000 stores in 31 states and the District of Columbia with strong presence on both the East and West coasts. Before the acquisition Rite Aid had annual revenues of $17.5 billion and 3,332 stores in 27 states and the District of Columbia, with strong presence on both the East and West coasts.
Source: The Herald-News