NEW YORK — Walgreens, along with major brand management firms and lifestyle entrepreneur Kourtney Kardashian, is reportedly evaluating key assets of Rite Aid as part of the pharmacy chain’s ongoing bankruptcy proceedings, sources familiar with the matter told Reuters.
Authentic Brands Group, WHP Global, and Marquee Brands are among the interested parties. These firms are known for acquiring distressed retail intellectual property and relaunching brands through licensing partnerships. They are eyeing Rite Aid’s brand IP and customer loyalty program as potential acquisitions.
Perhaps most notably, Kardashian, co-founder of wellness brand Lemme and founder of Poosh, is said to be exploring a bid for Rite Aid’s iconic Thrifty ice cream brand, either independently or in partnership with an investor.
Rite Aid, which filed for Chapter 11 bankruptcy last month, its second filing in two years, has already begun winding down operations under the oversight of U.S. Bankruptcy Judge Michael Kaplan. Around 1,200 stores remain operational, and prescription file sales have already been approved for 13 buyers, including CVS and Walgreens.
The brand bidding process is being closely watched. The deadline for final offers is June 18 at 5 p.m. ET.
This potential scramble for Rite Aid’s remaining assets underscores the continued value of legacy retail IP, even amid store closures and operational declines. Thrifty, in particular, with its strong emotional connection to customers and potential for growth beyond the drugstore model, is emerging as a crown jewel in the sale.
All parties involved declined or did not respond to requests for comment.
