Walgreens Going Private in $23.7B Agreement

Walgreens will retain its banner name as it goes private for the first time since 1927.

Walgreens Boots Alliance, Inc. (WBA) confirmed reports that it is going private. On March 6, the global organization announced that it has agreed to be acquired by an entity affiliated with New York-based private equity firm Sycamore Partners. The WBA board of directors approved the deal, which is estimated at $23.7 billion and is expected to close during the fourth quarter of 2025.

A public company since 1927, Walgreens will continue to operate under that name as part of a portfolio of brands that also includes the UK-based Boots chain. The headquarters will remain in the Chicago-area suburb of Deerfield, too. 

Current shareholders will receive total consideration consisting of $11.45 per share in cash at closing of the Sycamore transaction and one non-transferable to receive up to $3.00 in cash per WBA share from future monetization of WBA’s debt and equity interests in VillageMD.