Rite Aid buys out Seattle-based Bartell Drugs chain for $95 million

Rite Aid announced Wednesday it will buy Bartell Drugs, a Seattle-based, family-owned pharmacy chain for $95 million.

“Looking forward to the future with Rite Aid,” George D. Bartell, Chairman of Bartell Drugs, said in a news release. “We are excited about the opportunity to expand upon our mission to be the best neighborhood drug store in the Pacific Northwest. Rite Aid’s vision fits well with what we think will best serve the needs of our customers.”

Bartell Drugs was founded in 1890 and fills around 5.5 million prescriptions per year across its 67 stores in Seattle and the rest of Washington, according to the release. The stores will join Rite Aid’s existing 69 stores in Seattle and will operate under the Bartell name.

Bartell currently employs around 1,700 workers, Bartell said in a statement.

“For more than a century, Bartell’s has been an integral part of the fabric of Seattle and neighboring communities serving families with pharmacy services while promoting the health and well-being of local communities,” Heyward Donigan, president and chief executive officer of Rite Aid, said in a statement.

Bartell Drugs, one of the oldest companies in Washington, has been saddled with financial strain during the pandemic and before, The Seattle Times reported.

“We felt that this was the only answer,” Bartell said, according to the publication. “It was getting more difficult for regional operators to compete in the market.”

Rite Aid, which is based in Pennsylvania, has around 2,500 stores across 19 states, the Times reported. The sale is scheduled to close in December, and the company hasn’t disclosed if there will be any cuts to Bartell’s retail staff.