SCRANTON -- A drug store giant that started in downtown Scranton has been sold for almost $10 billion.
The Rite Aid Corporation will be sold to Walgreens drug stores.
In 1962, Scranton native Alexander Glass started the company that would become Rite Aid. The news of one big box drug store buying another wasn't necessarily surprising to shoppers in Scranton. They just hoped nothing changes for their local big box drug store.
Rite Aid on the corner of North Washington Avenue and Spruce Street is one of the busiest places in downtown Scranton. If you're rushing past, you may not notice the plaque signifying the store as the original Rite Aid.
It is soon to be a part of the largest drugstore chain in the country, Walgreens.
"Well, my concerns are just the fact that it's been in business for so long and, you know, it's originally from this area and that the workers would retain their jobs and also that the programs would remain in place, like the 20 percent off," said shopper Janet Shaw of Tunkhannock.
Rite Aid is currently the third largest drug store chain in the country. It's still unclear if the stores will keep the Rite Aid name once the sale is final.
"I would like to see that, and I'm not a big proponent of big business. I like competition," Shaw added.
With the help of the Lackawanna Historical Society, we looked back to a simpler time to 1962 when the original Rite Aid opened as "Thrif D Discount Center".
It's original location was on Lackawanna Avenue. The building is now a salon.
"I think it's a really good thing to see a local based company that's spread so far," said George Conrad of Scranton.
Conrad uses the downtown Rite Aid a lot. To him, the multi-billion dollar sale is a point of pride for Scranton. But the law might force some Rite Aids that are in close proximity to Walgreens stores to close.
The $9.4 billion sale won't be final for a few months and it's unclear what, if anything, will change with our local Rite Aid stores.