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Answer» What is Rite Aid Corporation mean? Rite Aid Corporation is an American drugstore chain based in Philadelphia, Pennsylvania near the Navy Yard. It was founded in 1962 in Scranton, Pennsylvania by Alex Grass under the name Thrift D Discount Center. The company ranked No. 150 in the 2020 Fortune 500 list of the largest United States corporations by total revenue. Rite Aid is the largest drugstore chain on the East Coast and the third largest in the U.S. Rite Aid began in 1962, opening its first store in Scranton, Pennsylvania; it was called Thrift D Discount Center. After several years of growth, Rite Aid adopted its current name and debuted as a public company in 1968. As of 2021, Rite Aid is publicly traded on the New York Stock Exchange under the symbol RAD. On September 19, 2017, the Federal Trade Commission (FTC) approved a fourth deal agreement for Walgreens to purchase 1,932 stores from Rite Aid for $4.38 billion total. reference
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