Target’s Competition Heats Up With Walgreens-Rite Aid Merger
Walgreens said on Tuesday that it would acquire pharmacy chain Rite Aid in a $17.2 billion deal. The transaction would put it in fierce competition with market-share leader CVS Health.
The acquisition also positions Walgreens better to take on Target as urban consumers increasingly turn to small-scale stores that offer many of the items the big boxes offer. Target has embraced this trend with its Target Express-format stores. The first such store rolled out in Dinkytown last year.
In September, TCB reported on companies like Walgreens that are increasingly challenging Target.