Albertsons, which already owns Safeway, buys Rite Aid

Grocer Albertsons will buy drugstore chain Rite Aid in a deal that would accelerate the remaking of the U.S. retail and health-care industries.

The takeover serves several purposes. Rite Aid will get a buyer after a failed merger with another chain last year. Albertsons, headquartered in Boise, will add new locations and size amid increasing pressure from online competitors. And the grocer’s private-equity owners will exit their 2013 investment without having to go through an initial public offering in a turbulent market.

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