Rite Aid buys 130-year-old Seattle-based Bartell Drugs chain for $95 million

Bartell Drugs cited the rising costs of the coronavirus pandemic and Seattle business taxes as factors for the sale to Rite Aid.

SEATTLE — It’s the end of an era for one of Puget Sound’s longest running, homegrown companies.

The 130-year-old Bartell Drugs has been sold to Pennsylvania-based Rite Aid for $95 million in a deal that the two companies say will preserve the financial standing and brand name for the locally iconic drugstore chain.

Bartell Drugs’ history dates back to 1890 when George Bartell Sr. opened up his first pharmacy in Seattle’s Central District. It has expanded to 69 stores in King, Pierce and Snohomish counties. 

Rite Aid, which has been a competitor in and out of the market, is a Fortune 500 company based outside Harrisburg, Penn. with more than 2,500 stores in 19 states. 

The “definitive agreement,” as both companies called it, is expected to close in

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Real estate brokerage Compass to acquire Seattle-based home closing startup Modus

Modus CEO Alexander Day; co-founder Jai Sim; and Abbas Guvenilir. (Modus Photo)

New York-based real estate brokerage and tech company Compass will acquire Modus, a Seattle startup that automates the title and escrow phase of closing on a home.

Compass plans to integrate Modus’ software into its tech-fueled platform used by more than 18,000 real estate agents across 165-plus U.S. cities. The Modus brand will continue to exist and its 60-plus employee team will join Compass, which employs more than 2,000 people.

Founded in 2018, Modus digitizes the home closing process. Last year it raised a $12.5 million round co-led by NFX and Felicis Ventures. Other backers include Liquid 2 Ventures; Mucker Capital; Hustle Fund; 500 Startups; Rambleside; and Cascadia Ventures. The company has raised $14 million to date.

“Compass’s customer-first approach is right in line with the way we think about our business – since day one we have

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