Rite Aid acquires Northwest’s own Bartell Drugs for $95 million
Oct 7, 2020, 11:59 AM | Updated: 3:02 pm
(KIRO 7 TV)
(KIRO 7 TV)
Originally founded in Seattle, Bartell Drugs announced Wednesday that it has been sold to Rite Aid for $95 million.
The chain first opened in the Pacific Northwest in 1890, and features 67 locations across the Puget Sound region.
“For more than a century, Bartell’s has been an integral part of the fabric of Seattle and neighboring communities serving families with pharmacy services while promoting the health and well-being of local communities,” Rite Aid President and CEO Heyward Donigan said in a written release. “The acquisition of Bartell’s fits perfectly into and accelerates our RxEvolution strategy, as our companies share a commitment to total health and wellness, the importance of the pharmacist as a trusted health advisor and the critical role the neighborhood pharmacy plays.”
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This comes in the wake of difficulties brought on by the COVID-19 crisis, with Bartell Drugs co-owner George D. Bartell noting that it “was getting more difficult for regional operators to compete in the market.”
“We have been faced with pressure over the last few years with drug prices, what’s happening in health care, business taxes, etcetera, and we were already working hard to overcome that when the pandemic hit,” Bartell Drugs President and CEO Kathi Lentzsch told KIRO Radio.
Bartell Drugs locations will not be rebranded following Rite Aid’s acquisition, and will continue to operate under the original moniker. Rite Aid currently operates 69 locations of its own in the Greater Seattle Area.
“Rite Aid’s vision fits well with what we think will best serve the needs of our customers,” Bartell said Wednesday. “This is a day to celebrate the 130-year success story of Bartell Drugs, while eagerly anticipating the future.”
