What Albertsons Purchase of Rite Aid Means for Drug Retail
Albertsons is buying a big portion of Rite Aid to create a company worth $24 Billion. Shares of Rite Aid soared as much as 8 percent on the news. This acquisition comes as many retailers join forces to compete with Amazon, which is involved in nearly every industry from retail, to grocery, and now even healthcare. Wall Street Journal Reporter Heather Haddon and Bold Media's Business Editor David Grasso explain what this deal means for drug retail.
"Rite Aid was really put at a disadvantage right after the stuttered Walgreens deal," says Haddon. "This was really about Rite Aid helping to reposition themselves, get access to a whole new market of Albertsons customers, and in turn Albertsons gets a lot of pharmacy customers and cross-marketing opportunities."
"We are seeing a lot of disruption, and everyone is shaking in their boots," says Grasso. "It's all about survival.
Through this deal the integrated company will operate 4,900 locations, 4,350 pharmacy counters, and 320 clinics across 38 states and Washington, D.C.
Arjan Stephens, President of Nature's Path, discusses the company's origin, how it has evolved today and the interesting product that came from his wedding!
Small business reporter, Gene Marks, joins Cheddar to give analysis on how small businesses are tackling incoming tariffs and how it will affect the consumer.
Babylist CEO Natalie Gordon joins Cheddar to discuss how the website is helping new parents, how to make a registry and how secondhand options are available.
Biotechnology company Regeneron Pharmaceuticals is buying 23andMe for $256 million, two months after the genetic testing company filed for Chapter 11 bankruptcy protection.
ReturnPro CEO Sender Shamiss to discuss how his company is changing the way we make returns and how Trump's tariffs are affecting the return business. Watch!
