Sycamore Partners completes acquisition of Walgreens Boots Alliance.

Sycamore Partners has completed its acquisition of Walgreens Boots Alliance (WBA) in partnership with Stefano Pessina and his family. The acquisition allows WBA to operate as standalone companies, including Walgreens, The Boots Group, Shields Health Solutions, CareCentrix, and VillageMD. Sycamore Partners is acquiring the business with the goal of partnering with management teams to drive growth and expansion.

Sycamore Partners has successfully completed its acquisition of Walgreens Boots Alliance (WBA) in partnership with Stefano Pessina and his family. The acquisition allows WBA to operate as standalone companies, including Walgreens, The Boots Group, Shields Health Solutions, CareCentrix, and VillageMD. Sycamore Partners is acquiring the business with the goal of partnering with management teams to drive growth and expansion.

Following the closing of the transaction, Walgreens, The Boots Group, Shields Health Solutions, CareCentrix, and VillageMD will operate as separate standalone companies. The acquisition has resulted in WBA's common stock ceasing trading and no longer being listed on the Nasdaq. In addition to the cash consideration of $11.45 per WBA share, shareholders will receive one non-transferable right to receive up to an additional $3.00 in cash per WBA share from the net proceeds of the future monetization of WBA’s debt and equity interests in VillageMD, which includes the Village Medical, Summit Health, and CityMD businesses.

Stefano Pessina expressed his family's continued commitment to the companies, stating, "This milestone begins a new chapter for Walgreens, The Boots Group, and the other portfolio businesses. Our family has proudly supported these companies for decades, and we are pleased to continue that commitment alongside Sycamore."

Stefan Kaluzny, Managing Director of Sycamore, emphasized the importance of the companies' role in their communities and the potential for growth under private ownership. "Walgreens Boots Alliance, Inc., its companies, and its dedicated team members play an essential role in the communities they serve around the world. We look forward to partnering with the management teams at each company," Kaluzny said.

The acquisition was advised by UBS Investment Bank, Goldman Sachs, J.P. Morgan, Citi, Wells Fargo, Davis, Polk & Wardwell LLP, Bass Berry & Sims PLC, Centerview Partners, Kirkland & Ellis LLP, Ropes & Gray LLP, Debevoise & Plimpton LLP, and Morgan Stanley & Co. LLC.

References:
[1] https://www.morningstar.com/news/business-wire/20250827891313/sycamore-partners-completes-acquisition-of-walgreens-boots-alliance
[2] https://www.nasdaq.com/press-release/sycamore-partners-completes-acquisition-walgreens-boots-alliance-2025-08-28