Sycamore Partners to acquire Walgreens Boots Alliance in a $23.7bn deal.​

Sycamore Partners, a private equity firm specializing in retail and consumer investments, agreed to acquire Walgreens Boots Alliance, an integrated healthcare, pharmacy and retail services provider, in a $23.7bn deal.​ “Throughout our history, Walgreens Boots Alliance has played a critical role in the retail healthcare ecosystem. We are focused on making healthcare delivery more effective, convenient and affordable as we navigate the challenges of a rapidly evolving pharmacy industry and an increasingly complex and competitive retail landscape. While we are making progress against our ambitious turnaround strategy, meaningful value creation will take time, focus and change that is better managed as a private company. Sycamore will provide us with the expertise and experience of a partner with a strong track record of successful retail turnarounds. The WBA Board considered all these factors in evaluating this transaction, and we believe this agreement provides shareholders premium cash value, with the ability to benefit from additional value creation going forward from monetization of the VillageMD businesses," Tim Wentworth, Walgreens Boots Alliance CEO.