Company Overview Visit riteaid.com website
"Rite Aid" is a popular drugstore franchise in America. There are about 4,500 Rite Aid stores in all 50 states, with over 2,000 locations within the state of Pennsylvania alone. The stores offer prescription drugs and medical supplies in addition to hair care supplies, bath products, cosmetics, personal hygiene products, household items and convenience items.
The first Rite Aid opened for business in 1962 when longtime friends -- Italian immigrant Anthony Campenni and Baltimore City pharmacist Leon Rubin -- formed a partnership. They started out by running their new venture together out of Rubin's existing store in Pittsburgh. Day-to-day operations were run by Campenni & Rubin Management Services from its home office on Ardmore Boulevard just outside Philadelphia.
In 1968, Campenni bought out Rubin's interest in the company. Three years later, Rite Aid Corporation was founded with three stores in the greater Philadelphia area.
Over the next two decades, growth was slow but steady. It wasn't until 1987 that Rite Aid expanded beyond Pennsylvania for the first time -- with a store opened in Delaware. The future of Rite Aid looked bright, as they entered into agreements to open new locations with both grocery store chains and discount variety stores. By 1995, almost half of all Rite Aids were located within either grocery stores or Kmart superstores alongside independent pharmacies that were closing down due to financial difficulties.