Related Party Transactions

12 Months Ended

Mar. 03, 2012

Related Party Transactions

Related Party Transactions

18. Related Party Transactions

        There were receivables from related parties of $77 and $81 at March 3, 2012 and February 26, 2011, respectively.

        As of March 3, 2012, the Jean Coutu Group owned 234,401,162 shares (25.2% of the voting power of the Company) of common stock. On April 20, 2012, the Jean Coutu Group announced that it had disposed of 56,000,000 of its 234,401,162 shares of Rite Aid's common stock. As a result of such sale, the Jean Coutu Group was required to cause one of its designees to immediately resign from Rite Aid's board of directors and Andre Belzile resigned from Rite Aid's board of directors effective April 23, 2012. Following Mr. Belzile's resignation and reduction of the size of Rite Aid's board of directors from eleven to ten members, the Jean Coutu Group will continue to have the right to designate two members of Rite Aid's board of directors, subject to adjustment for future reductions in its ownership position in the Company. In addition, upon such sale, certain rights of Jean Coutu Group to maintain their ownership percentage in Rite Aid and the requirement that two-thirds of Rite Aid's board of directors approve certain transactions terminated.

        During fiscal 2012, 2011 and 2010, the Company paid Leonard Green & Partners, L.P., fees of $38, $163 and $150 for financial advisory services and expense reimbursements of $67, $151 and $72, respectively.