Walgreens, Rite Aid trim store purchase deal

Associated Press

Walgreens and Rite Aid have finally devised a deal between the nation’s largest and third-largest drugstore chains that will get past antitrust regulators.

The companies said Tuesday that they have Federal Trade Commission clearance for a slimmer version of a store-purchase agreement announced in June. Walgreens will now spend $4.38 billion on 1,932 stores, three distribution centers and inventory.

Bob Evans Farms is being sold to Post in a deal worth about $1.53 billion, giving the cereal maker a stronger presence in the grocery store through Bob Evans’ valuable refrigerated sides business. It sold its restaurant chain to Golden Gate Capital in April.

In filing for bankruptcy, Toys R Us joins a list of dozens of store chains that have done so already this year as online leader Amazon increasingly exerts its influence over a huge part of the retailing world. It says it’ll keep its 1,600 Toys R Us and Babies R Us stores open, and keep serving customers while in bankruptcy.