More Walgreens drugstores are coming to a corner near you.
Drugstore chain Rite Aid said Tuesday that it received regulatory approval for a slimmed-down sale of stores to rival Walgreens Boots Alliance.
Walgreens will buy 1,932 stores mostly in the Northeast and South, plus three distribution centers, for $4.375 billion. Under the amended agreement, Rite Aid is keeping 250 more stores than under a deal announced in June.
The companies did not disclose which Rite Aid stores are being bought by Walgreens. But the number of Rite Aid locations in North Carolina will fall to 9 from 222, according to a securities filing Tuesday.
South Carolina will have no Rite Aid stores after the deal, down from 87, according to the filing. One of the distribution centers Walgreens is buying is in Spartanburg, S.C.
The companies said they expect the transfer of ownership to start in phases beginning in October, with completion expected by spring. After the deal, Camp Hill, Pa.-based Rite Aid will continue to operate about 2,600 stores.
The revised agreement came after the companies abandoned Deerfield, Ill.-based Walgreens’ original plan to buy all of Rite Aid for $9.4 billion. That deal fizzled after a prolonged regulatory review.