Sale Of Walgreens Complete: Fate Of Deerfield Headquarters Also Decided

DEERFIELD, IL — Sycamore Partners, a private equity firm out of New York, announced Thursday that its acquisition of Walgreens Boots Alliance, the parent company of Walgreens, has been completed. Walgreens, The Boots Group, Shields Health Solutions, CareCentrix and VillageMD will all now be standalone companies under private ownership.

As Patch reported in March, Sycamore Partners entered into a definitive agreement to buy the Deerfield-based pharmacy giant for a reported $23.7 billion. According to Sycamore, Walgreens will keep its headquarters in Illinois.

Sycamore said Thursday it is acquiring the business in partnership with Stefano Pessina and his family, who have reinvested 100 percent of their interests in WBA, "demonstrating their ongoing support and confidence in the company's future." The Italian-Monegasque billionaire businessman is executive chairman and largest single shareholder of Walgreens Boots Alliance.

"This milestone begins a new chapter for Walgreens, The Boots Group and the other portfolio businesses," Pessina said in a statement. "Our family has proudly supported these companies for decades, and we are pleased to continue that commitment alongside Sycamore. Together, we are united in our belief in the future of these organizations and the essential role they play in millions of lives each day."

The move means Walgreens, which has been a publicly traded company for nearly 100 years, is now a private entity. With the completion of the acquisition, WBA's common stock has ceased trading and will no longer be listed on the Nasdaq.

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