CVS Health and Rite Aid have confirmed agreements to purchase prescription files from A&P stores in the Northeast. A&P filed for Chapter 11 bankruptcy protection this summer and has since been closing and selling off stores.
The company declined to disclose the cost, but published reports said CVS is paying about $25 million for the prescription files.
Rite Aid agreed to acquire prescription files and some pharmacy inventory from 16 stores — including the Pathmark, Waldbaum’s and Food Basics banners — in New Jersey, New York, Pennsylvania and Delaware.
The drug chain didn’t provide the purchase price, but published reports said it is slated to pay over $6 million for the script files.
In July, A&P announced that it was filing for bankruptcy, the second time in five years that the food and drug retailer has sought Chapter 11 protection. With the move, the iconic retailer began the process of shutting or divesting its base of stores. Retailers that have announced purchases of A&P stores, or have reportedly agreed to buy stores, include Acme Markets (a subsidiary of Albertsons), Stop & Shop (part of Ahold USA), Key Food Stores and Wakefern’s ShopRite.
At the time it announced the Chapter 11 filing, A&P operated 296 stores under the A&P, Best Cellars, Food Basics, Food Emporium, Pathmark, Superfresh and Waldbaum’s banners in Connecticut, New York, New Jersey, Pennsylvania, Delaware and Maryland. About half of the supermarket locations had pharmacies.