Walgreens Discussing Sale Of Company To Private-Equity Firm: Report

DEERFIELD, IL — Following more than a year of making cost-cutting measures across the board — including layoffs, closing of stores and distribution centers — the parent company of Walgreens may soon be selling itself to a private equity firm.

The Wall Street Journal reported Tuesday Walgreens Boots Alliance (WBA), based in Deerfield, has been discussing a deal with Sycamore Partners that could be completed in early 2025. The newspaper is citing "people familiar with the matter" for its report.

When asked about the potential sale, a spokesperson for WBA told Patch, "we don't comment on rumors or speculation."

According to WSJ, Walgreen's market value has fallen from a peak of $100 billion in 2015 to $7.5 billion currently. The move would take the pharmacy off the public market.

WBA, headquartered at 108 Wilmot Road, oversees approximately 8,600 Walgreens and Duane Reade stores in the U.S.

The company announced in October 2023 it would be implementing cost-cutting measures to the tune of at least $1 billion. In the last year, WBA has had several rounds of corporate layoffs, announced the closing of a "significant" number of stores, among other moves.

Sycamore Partners, which is based in New York, specializes in retail and consumer investments. Its holdings include Staples, Hot Topic and Premium Apparel (Ann Taylor, Lane Bryant).

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