Walgreens to own all of its competitor Rite Aid's locations in Kentucky

LEXINGTON, Ky. (WKYT) - Pharmacy giant Walgreens will take over the ownership of Lexington's 14 Rite Aid stores on Friday as part of a mega-deal between the two chains.

The move is part of Walgreens' acquisition of 1,932 Rite Aid locations across the country.

Earlier this month, Walgreens became the owner of about half of the Rite Aid locations in Kentucky. On Friday, the remaining locations -- including the 14 in Lexington -- will become Walgreens owned.

While Walgreens will own all the Kentucky Rite Aid locations, signage won't immediately change.

"First, we will transfer ownership, which will occur in waves. After the 1,932 store purchases are acquired, stores are planned to be converted to the Walgreens brand in phases over time," said Phil Caruso with Walgreens media relations.

When a store transfers ownership, the location becomes a Walgreens-owned Rite Aid store and Rite Aid employees become Walgreens employees.

"For now, the front of the store will continue normal business operations under the Rite Aid brand. At this time, the external store signs will remain Rite Aid. However, there will also be a sign on the window of the door indicated that the store is owned by Walgreens, in addition to signs at the pharmacy letting patients know this is a Walgreens pharmacy," said Caruso.

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