(WSB file photo)
… Over the past few years, it has become increasingly difficult for a mid-sized drugstore chain to operate independently. Changes in the pharmacy world, business tax increases and the pandemic created very strong headwinds for us. We knew we needed to do something to re-shape Bartell’s future.
For months now, we have carefully considered the best way to move forward, and we believe we have found the most successful way. Today, we announced our agreement to sell Bartell Drugs to Rite Aid.
This was a well-thought-out decision and we would like to tell you what this means to you.
First, we are thrilled that the Bartell name and heritage will remain. We expect you, as well as our 1,700 employees, to see little or no change in our 67 stores for some time to come. In fact, the change may be hardly noticeable as you will continue to benefit from having our ongoing pharmacy care and support with the same friendly teams and still enjoy our other unique products and services. In addition, Bartell Drugs will be owned by the local Bartell family until the acquisition is approved by financial and regulatory agencies. This process will take us most likely to early December and could be longer.
Second, we are confident Rite Aid is the best choice. Their management team has a fresh vision of how drugstores can best serve health care needs. Of our many options, their strategy and vision best align with our Bartell values and allows Bartells to continue to do what we do best, serve our community. To serve you!
We are excited about this excellent opportunity with Rite Aid, who wants us to continue to do what we do best, to serve you in the “Bartell” way. …
Rite Aid’s announcement says the purchase price is $95 million.
Bartell and Rite Aid have two stores each in West Seattle. We’re checking on the status of the corporate offices.