Walgreens Concludes Public Market Era with Landmark Private Equity Acquisition

In a move that ends its nearly century-long presence on public markets, Walgreens Boots Alliance has been formally acquired by private equity firm Sycamore Partners. The $10 billion deal, finalized on Wednesday, triggers the immediate breakup of the pharmacy giant into five distinct, privately-held companies.

The acquisition precipitated a complete overhaul of the company’s executive leadership. Mike Motz, the former chief executive of Staples, has been named the new CEO of Walgreens. Motz brings extensive retail expertise to the role, including prior experience leading Shoppers Drug Mart, Canada’s premier pharmacy chain.

This appointment signals a strategic refocus on core operations, reversing years of unsuccessful diversification efforts. Tim Wentworth, who had been steering turnaround... Read more...