Walgreens Concludes Public Trading Era with $10 Billion Private Buyout

In a landmark transaction that concludes its 124-year history as a publicly traded company, Walgreens Boots Alliance has been formally acquired by private equity firm Sycamore Partners. The $10 billion deal, finalized today, marks an immediate and radical restructuring for the pharmacy giant, which will be split into five distinct private entities.

Sycamore Partners has installed a completely new leadership team to steer the company through this transition. Mike Motz, the former Chief Executive Officer of Staples, assumes the role of CEO, replacing Tim Wentworth, who will remain solely on the board of directors.

“Heading back to private ownership allows Walgreens to open a new chapter,” stated Motz. “Our renewed focus will be squarely on the core business... Read more...