Rite Aid Corporation successfully entered into a series of sale agreements and pharmacy services transition agreements. This includes the rolling transition of pharmacy assets from more than 1,000 store locations across the U.S. to operators including CVS Pharmacy, Walgreens, Albertsons, Kroger, and Giant Eagle, among others, as well as the sale and operation by CVS Pharmacy of many Rite Aid and Bartell Drugs stores located in Washington, Oregon, and Idaho.

Importantly, during the transition, Rite Aid stores will remain open, and customers can continue to access their pharmacy services, including prescription refills and immunizations, without interruption.

Matt Schroeder, Chief Executive Officer of Rite Aid, said, “A key priority for Rite Aid is to ensure that as many of our loyal customers as possible continue to receive the pharmacy services and care they require without interruption. These agreements ensure our pharmacy customers will experience a smooth transition while preserving jobs for some of our valued team members.”

The sale transactions are subject to approval by the U.S. Bankruptcy Court for the District of New Jersey (the “Court”). The Court is currently scheduled to conduct a hearing to approve the sales on May 21, 2025. Upon approval from the Court, the sales will remain subject to certain regulatory notices and approvals, and other customary closing conditions.