Walgreens to buy Rite Aid stores in Wellsville and Cuba

Walgreens announced this week that it had scrapped its takeover bid of competitor Rite Aid after federal regulators expressed concerned. However, it did reach a deal to purchase nearly half of all Rite Aid stores. A Rite Aid source with direct knowledge told WRN today that management teams were told Thursday that Walgreens had planned to purchase stores in Wellsville and Cuba. Rite Aid in Olean will remain Rite Aid. The source could not confirm when the change would take place. In Wellsville, Rite Aid operates on Bolivar Road and Walgreens has a store on Main Street. The purchase will put two Walgreens in Wellsville. Walgreens has agreed to purchase 2,186 Rite Aid stores. The deal still must be approved by the feds.