Glover Park Group is working supermarket chain Albertsons’ acquisition of Rite Aid, drug store operator/benefits management company, for cash and stock.
The deal will create a yet-to-be-named entity with $83B in annual revenues and 4,900 stores across the US that serve more than 40M customers per week.
Bob Miller, Albertsons CEO, said the merger will forge a “fully integrated one-stop shop for our customers’ food, health and wellness needs.”
Albertsons, which owns supermarket brands such as Albertsons, Safeway, Vons, Jewel-Osco and Shaw’s, will own 71 percent of the merged company.
The Wall Street Journal reports the transaction will allow Albertsons to go public after more than a decade of ownership by Cerberus Capital Management private equity firm.
Glover Park’s Andrew Johnson represents Cerberus in the Rite Aid deal.