Albertsons Companies merges with portion of Rite Aid

Grocery store operator Albertsons is buying the portion of Rite Aid that's not being sold to Walgreens.

The deal would create a supermarket and healthcare giant.

The two companies together will have about 4,900 locations and could generate about $83 billion in annual sales.

Albertsons operates grocery stores in several states under names like Safeway and Acme.

Last year, Walgreens announced an agreement to buy nearly 2,000 Rite Aid stores after an offer to buy the entire company fell apart.

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