Letter to Walgreens and Rite Aid UFCW members RE: Fred’s Agreement
Walgreens agreement to buy Rite-Aid still needs the Federal Trade Commission’s (FTC) approval to complete the deal. If approved, Walgreens has agreed to sell 865 Rite Aid stores to pharmacy-operator Fred’s Inc.
Fred’s Pharmacy has stated publicly that if it were to acquire these stores, it would continue to employ existing Rite Aid workers at the stores, honor Collective Bargaining Agreements and operate under the Rite Aid banner. It would do so through a 24-month transition period. Rest assured that your union is doing everything within our power to make sure that Fred’s keeps its word. Protecting your jobs, your benefits, and your future is the top priority of our union family.
The companies have not identified the specific Rite Aid store locations that will be sold, but we expect that these stores will be those that are in close proximity to existing Walgreens stores.
We will keep you updated with any new developments as they happen.