NEW YORK (AP) — The Walgreens Boots Alliance says it has agreed to be acquired by private equity firm Sycamore Partners as it appears to turn its own head after years of losing money.
Walgreens said Thursday that Sycamore would pay $11.45 per share, giving the deal a share value of just under $10 billion. Shareholders can ultimately receive up to $3 per share under certain conditions.
The acquisition to make the drugstore chain private gives you the flexibility to make changes to improve your business without worrying about Wall Street’s reaction. The company is already trying to turn its business around, so it has made some major changes. Walgreens has been a public company since 1927.
Founded in 1901, Walgreens deals with shoppers who are sensitive to thin prescription refunds, rising costs, sustained theft and inflation looking for bargains elsewhere. Walgreens is in the early stages of its plans to close 1,200 of around 8,500 US locations.
Deerfield, Illinois, has already abandoned around 1,000 US stores since growing to nearly 9,500 people after purchasing a ceremonial aid site in 2018.
Original issue: March 6, 2025, 6:09pm EST
