Schulte is advising Albertsons Companies, one of the nation’s largest food and drug retailers, in its merger with Rite Aid Corporation, one of the nation’s leading drugstore chains. The integrated company will operate approximately 4,900 locations, 4,350 pharmacy counters and 320 clinics across 38 states and Washington, D.C., serving over 40 million customers per week. The deal was announced Feb. 20, 2018 and is expected to close early in the second half of 2018. The newly combined company is expected to generate year one revenues of approximately $83 billion.
The Schulte team representing Alberstons is led by M&A and securities partners Stuart Freedman and Michael Gilligan. The team also includes M&A and securities associates Matthew Gruenberg, Brett Jackson and William Tevlin; securities and finance partners Antonio Diaz-Albertini and Ronald Risdon, special counsel Xavier Kowalski and associate Michael Stromquist; tax partner Alan Waldenberg and associate Philip Cooke; antitrust partner Michael Swartz and special counsel Gregory Kinzelman; and employment & employee benefits partners Ian Levin and Ronald Richman and special counsel Stephen Brecher and Scott Gold.