Rite Aid is set to purchase longtime, family-owned Bartell Drugs for $95 million in a mutual move to expand as a neighborhood pharmacy in Washington, according to a press release.
Through an agreement between the local and national drug stores, Bartell’s 67 stores statewide will stay under the same name and brand.
“We are excited about the opportunity to expand upon our mission to be the best neighborhood drug store in the Pacific Northwest. Rite Aid’s vision fits well with what we think will best serve the needs of our customers,” chairman of Bartell Drugs George D. Bartell said in the release.
“We are excited about this excellent opportunity with Rite Aid, who wants us to continue to do what we do best, to serve you in the ‘Bartell’ way,” Bartell’s chairman George Bartell and CEO Kathi Lentzsch wrote in a joint letter to customers.
Rite Aid aims to form a closer connection with Seattle-area residents by acquiring Bartell’s. Bartell’s has been a staple drug store and a relative household name in King, Snohomish, and Pierce counties since 1890.
“Expansion within the growing Seattle area will allow Rite Aid to better serve customers, health plans and healthcare providers,” Rite Aid president and CEO Heyward Donigan said in the release.