Rite Aid Corporation is a drugstore chain in the United States. The company ranked No. 94 in the 2018 Fortune 500 list of the largest United States corporations by total revenue. It is headquartered in Camp Hill, Pennsylvania, near Harrisburg. Rite Aid is the largest drugstore chain on the East Coast and the third largest in the U.S.\nRite Aid began in 1962, opening its first store in Scranton, Pennsylvania; it was called Thrift D Discount Center. After several years of growth, Rite Aid adopted its current name and debuted as a public company in 1968. As of 2020, Rite Aid is publicly traded on the New York Stock Exchange under the symbol RAD. \nIts major competitors are CVS and Walgreens.\nIn late 2015, Walgreens announced that it would acquire Rite Aid for $17.2 billion pending approval. However, on June 29, 2017, over fear of antitrust regulations, Walgreens Boots Alliance announced it would buy roughly half of Rite Aid's stores for $5.18 billion.On September 19, 2017, the Federal Trade Commission (FTC) approved a fourth deal agreement to purchase 1,932 stores from Rite Aid for $4.38 billion total.
Rite Aid