The Walgreens logo will be exhibited on October 15, 2024 in San Rafael, California, in a Walgreens business.
Justin Sullivan | Getty pictures
Fighting drugstore chain Walgreens becomes private.
The company announced on Thursday that it has concluded a contract with the private equity company Sycamore Partners, which withdraws the public market for a stock value of around 10 billion US dollars.
For Walgreens, Sycamore pays $ 11.45 per share in cash, which corresponds to a bonus of around 8% for the closing price of the share on Thursday. In the future, shareholders could also receive up to $ 3 per share from the sale of Walgreens' Primary Care Companies, including the village of Medical, Summit Health and CityMD.
Walgreens said the total value of the transaction would be up to 23.7 billion US dollars in the case of debt and possible payments across the board.
Walgreens and Sycamore assume that he will complete the Take Privat deal in the fourth quarter of this year. The shares of Walgreens rose by more than 5%on Thursday in trade after trading after trading before they were hired.
The historical deal ends the turbulent run of Walgreens as a stock corporation, which began in 1927. From Thursday morning, the company's shares rose by more than 15% for 2025, but the share had still declined by more than 48% last year and had fallen by 70% in the past three years.
“While we make progress against our ambitious turnaround strategy, a sensible added value will take time, focus and change that are better managed as a private company,” said Tim Wentworth, CEO von Walgreens, who entered the role in 2023 in a press release on Thursday. “Sycamore will offer us the know -how and the experience of a partner with a strong track record for successful retail circumstances.
In the publication, Stefan Kaluzny, Managing Director of Sycamore, said that the transaction of the company's trust in Walgreens' “Pharmacy-guided model and an important role in promoting better results for patients, customers and communities” reflected.
Walgreens will maintain his headquarters in Chicago. According to the publication, the company currently has more than 310,000 employees worldwide and 12,500 locations for pharmacies in the USA, Europe and Latin America. Walgreens still plans to publish his income in the second quarter on April 8th.
In 2015, the market value of Walgreens reached a maximum of more than $ 100 billion when investors gained confidence in its health business and expansion plans, which made it one of the best-known American retail companies.
However, the company's market capitalization shrank to less than 8 billion US AmazonTogether with a number of challenges. Walgreens was pressed through the transition from Covid pandemic, the headwind, softer consumer expenses and a restless advance into health care.
Both Walgreens and CVS have cheated from years of expanding shops to switching on hundreds of locations in retail in the USA to support profits. In contrast to CVS, which diversified its business model by offering insurance and pharmacy advantages, Walgreens doubles the now pleading retail business in retail.
In October, Walgreens announced that it would like to close around 1,200 of its drugstores in the next three years, including 500 in the 2025 fiscal year. Walgreens has around 8,700 locations in the United States, a quarter of which is unprofitable. The company has also withdrawn its advance into basic care by reducing its share of provider Villagemdirt.
The veteran of the health industry Tim Wentworth as the new CEO at the end of 2023 typed Walgreens as the new CEO to regain his foundations.
According to reports, the company has been regarded as a potential private equity goal in the past.
In 2019, the private equity company KKR for Walgreens made a buyout offer of around 70 billion US dollars, the Financial Times and Bloomberg at that time.
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