Walgreens expects to close Alliance Boots transaction on Dec. 31

DEERFIELD, Ill. — Walgreens expects to close its merger with Alliance Boots by the end of the year, pending shareholder approval on Dec. 29, the retailer announced Tuesday. 

 

"This is truly an extraordinary milestone in a strategic journey that began six years ago to position Walgreens for a new generation of growth and value creation," Greg Wasson, Walgreens president and CEO, told shareholders Tuesday morning. "[It was] a journey that included transforming the front-end of our drug stores, advancing the role community pharmacy plays in health care and has culminated by taking Walgreens global, creating the first pharmacy-led health and well-being enterprise. Bringing these two iconic brands together will be difficult, if not impossible, to replicate."

 

The newly formulated Walgreens Boots Alliance year-end will be Aug. 31, the company reported. Walgreens will break out the performance of the new company going forward in three segments — Retail Pharmacy USA, which will include Walgreens and Duane Reade; Retail Pharmacy International, which has pharmacy-led health and beauty retail businesses in eight countries; and Pharmaceutical Wholesale, which mainly operates under the Alliance Healthcare brand in 12 countries. 

 

Walgreens Boots Alliance will share more details at an upcoming analyst day in New York to be held in the months after closing the deal.