About Business
Rite Aid is a private American company founded in 1962 and based in Philadelphia, Pennsylvania, United States. The company operates retail drug store chains, grocery stores, and liquor stores. During its establishment, it was previously known as Thrift D Discount Center. After many successful years and acquiring 1,300 stores, the company was renamed Rite Aid in 1968. Rite Aid was ranked 148th on the Fortune 500. Alex Grass founded this pharmacy store company and named his first store Thrift D Discount Center. Soon after that, he expanded his stores to more states, and the company became public in 1968.