M&A Deal Summary

Rite Aid Acquires Thrifty PayLess

On October 14, 1996, Rite Aid acquired retailer Thrifty PayLess for 2.3B USD

Acquisition Highlights
  • This is Rite Aid’s 3rd transaction in the Retail sector.
  • This is Rite Aid’s largest (disclosed) transaction.
  • This is Rite Aid’s 4th transaction in the United States.
  • This is Rite Aid’s 1st transaction in California.

M&A Deal Summary
Date 1996-10-14
Target Thrifty PayLess
Sector Retail
Buyer(s) Rite Aid
Deal Type Add-on Acquisition
Deal Value 2.3B USD

Target

Thrifty PayLess

Los Angeles, California, United States
Thrifty PayLess, Inc. is a drugstore chain in the western United States, with 1,007 drugstores in ten states.

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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 4 of 12
Sector (Retail) 3 of 7
Type (Add-on Acquisition) 4 of 11
State (California) 1 of 1
Country (United States) 4 of 12
Year (1996) 1 of 1
Size (of disclosed) 1 of 5
PREVIOUS 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
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1997-07-21 Harco

Tuscaloosa, Alabama, United States

Harco, Inc. is a retail drug store company.

Buy -
Mergr

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