Walgreens Boots Alliance has entered into a definitive agreement to be acquired by an entity affiliated with Sycamore Partners, the company has announced.
The announcement marks the end of an era, as Walgreens has been trading as a public company since 1927.
Walgreens CEO Tim Wentworth told investors, “While we are making progress against our ambitious turnaround strategy, meaningful value creation will take time, focus and change that is better managed as a private company. Sycamore will provide us with the expertise and experience of a partner with a strong track record of successful retail turnarounds.”
Stefan Kaluzny, Managing Director of Sycamore Partners stated, “This transaction reflects our confidence in WBA’s pharmacy-led model and essential role in driving better outcomes for patients, customers and communities.”
Before the transaction proceeds, it must receive approval from WBA shareholders. The deal is anticipated to close in the fourth quarter of 2025.
Walgreens shares have lost approximately 80% of their value over the past five years; however, prices have begun to rise since discussions started about the company going private.
By CEO NA Editorial Staff
