Food & Drink
Bartell Drugs Bought By Rite Aid for $95M
The 130-year-old chain’s brand will remain
By Rob Smith October 7, 2020
Struggling Rite Aid Corp. has purchased Seattle’s iconic Bartell Drugs for $95 million.
Bartell, which has been family-owned since its launch in 1890, employs more than 1,700, operates 67 stores throughout the Puget Sound region and generated more than $550 million in revenue last year. Rite Aid will keep the Bartell name.
“Rite Aid’s vision fits well with what we think will best serve the needs of our customers,” says George Bartell, grandson of founder George Bartell Sr. “Looking forward to the future with Rite Aid.”
Rite Aid was identified as having an elevated risk of bankruptcy in the next 12 months in a recent report by industry website RetailDive and CreditRiskMoitor, which analyzed metrics such as stock market capitalization and volatility, financial ratios and bond agency ratings.
Rite Aid, which is based in Camp Hill, Pennsylvania, operates 2,400 retail pharmacy locations in 18 states. Rite Aid operates 69 stores in the Puget Sound region.
“Expansion within the growing Seattle area will allow Rite Aid to better serve customers, health plans and health care providers,” says Rite Aide Chief Executive Officer and President Heyward Donigan.
Bartell Drugs hired its first non-family member CEO in the company’s history in 2015. Its second non-family CEO, Kathi Lentzsch, was hired in early 2018. Lentzsch quickly became an outspoken advocate for the business community and was especially critical of the rising crime rate in downtown Seattle. She will remain CEO, at least for now.
The deal is expected to be finalized next Spring, at the end of Rite Aid’s fiscal 2021 year.
Follow Us
Costco Hikes Membership Fees
The company last raised the price in 2017
[addtoany]I love shopping at Costco. Sure, our household doesn’t always need 18 tubes of toothpaste at once, but that’s a small price to pay for the savings. Even just one purchase — a computer, for instance — can recoup a basic membership fee. Rumors have been swirling for years that the company would raise its…
16 Local Gifts for a Seattle Mother’s Day
A funny candle, a meaningful necklace, and the best sundae in town
Let's talk about Mother's Day. It's a holiday that can feel a tad complex. Maybe you're planning to spoil your mom with a spa day, or maybe you're finding ways to honor her memory or handle some tricky emotions. No matter how you choose to celebrate, we’ve rounded up some fun and local gift ideas.
The Best Gifts for Travel Lovers
Tinsel, eggnog, mistletoe, and luggage
Travel lovers are the easiest people to buy for. Wrap a gift in old maps and they’ll spend hours deciphering the roadways and important coordinates. Put something inside the wrapping that will satiate their wanderlust, or encourage it, and you might be their next invitee to Paris.