Rite Aid to Expand After Acquiring Kings Pharmacy East

Rite Aid in Long Beach, located at 24 E. Park Ave. in the Waldbaum’s shopping center, plans to expand to an adjacent vacancy after the national chain acquired Kings Pharmacy East earlier this week.

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Eric Harkreader, a public relations specialist for Rite Aid, told Patch the store will expand to the former Social Security Administration office that closed last year, and construction will start sometime after the summer.

“The store will remain open throughout the construction, which should wrap up later in 2013,” Harkreader said.

Kings Pharmacy, at 639 E. Park Ave., closed its doors on Monday and posted a yellow flier that said the pharmacy had “merged” with Rite Aid. But Harkreader told Patch on Thursday that he would not have characterized it as a merger.

Rite Aid acquired all existing prescriptions of Kings’ customers and started to service them Monday. The chain expanded its daily prescription delivery, a free service offered three times a day, Monday through Saturday, and new customers will have full access to pharmacy’s services.

“We also purchased many of their business assets, including inventory and even some of the display fixtures [such as shelving,” Harkreader said.  

He noted that Rite Aid interviewed every Kings Pharmacy employee that was interested in working for the chained, and the store anticipates being able to offer job placement for all who are interested.

Chamber of Commerce President Michael Kerr said that Kings owner, Rajendraprasad Venigalla, might have sold the business over a disagreement with the landlord. Kerr told the Long Beach Herald:

“The owner may have decided to sell the business and not renegotiate the lease after it was given an offer by Rite Aid.”

Kerr noted that Rite Aid and other corporate chains, such as CVS and Walgreens, have purchased small, independent pharmacies. Last year Rite Aid acquired Bi-Wise Drugs, at 26 W. Park Ave., a vacancy that remains in the middle of town.

Kings has locations throughout the metropolitan area and each is individually owned and operated, including Kings Pharmacy in the West End, at 1054 W. Beech St., while Rite Aid has more than 4,600 stores nationwide, according to the Herald.