M&A Deal Summary

Rite Aid Acquires Payless Drug Stores

On April 20, 1994, Rite Aid acquired food company Payless Drug Stores

Acquisition Highlights
  • This is Rite Aid’s 1st transaction in the Food sector.
  • This is Rite Aid’s 2nd transaction in the United States.
  • This is Rite Aid’s 1st transaction in Oregon.

M&A Deal Summary
Date 1994-04-20
Target Payless Drug Stores
Sector Food
Buyer(s) Rite Aid
Deal Type Add-on Acquisition

Target

Payless Drug Stores

Portland, Oregon, United States
website
PayLess has developed innovative adherence packaging systems for the mental health market and offers the most experienced Clozapine monitoring program in the region.

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Buyer(S) 1

Buyer

Rite Aid

Philadelphia, Pennsylvania, United States

website

Category Company
Founded 1962
Sector Retail
Employees53,000
Revenue 24.6B USD (2022)
DESCRIPTION

Rite Aid is a drugstore chain with approximately 4,600 stores in 31 states and the District of Columbia. Rite Aid was founded in 1962 and is based in Camp Hill, Pennsylvania.

DEAL STATS #
Overall 2 of 12
Sector (Food) 1 of 1
Type (Add-on Acquisition) 2 of 11
State (Oregon) 1 of 1
Country (United States) 2 of 12
Year (1994) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1969-01-01 Daw Drug

Rochester, New York, United States

Daw Drug Co. is a retail drugstore chain company.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1994-12-28 Perry Drug Stores

Pontiac, Michigan, United States

Perry Drug Stores, Inc. is a retail pharmacy chain.

Buy $132M
Mergr

Product

Company

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