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Rite Aid acquisition of K&B, Harco will give chain presence in 31 states.

This article was originally published in The Tan Sheet

Executive Summary

RITE AID WILL EXPAND PRESENCE TO 31 STATES WITH K&B, HARCO ACQUISITIONS, continuing the Camp Hill, Penn.-based chain's strategy of increasing its geographical coverage. The strategy of gaining geographical depth began with the purchase of the West Coast drug chain Thrifty PayLess after the Federal Trade Commission objected to a proposed merger with Revco, which would have deepened the company's East Coast presence ("The Tan Sheet" Oct. 21, 1996, p. 19). The purchase price of the two chains is between $325 mil. and $340 mil. in cash plus about $20 mil. in assumed debt.
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