Rite Aid
Executive Summary
Acquires the 114 store Lane Drug chain, a subsidiary of Peoples' Drugs, for an undisclosed amount. The transaction, which is expected to close in mid-April, will raise the number of stores Rite Aid operates to 2,285 in 22 states while decreasing the People's chain to 505 stores. People's Drug is a wholly owned subsidiary of the Canadian company Imasco Ltd.