Walgreens To Acquire The Remainder of Boots

bootsUS pharmacy giant Walgreens is set to completely take over Britain’s largest pharmacy chain Alliance Boots in a deal expected to be worth in the region of £5bn.

The purchase, expected to be announced as soon as Wednesday, will see the Illinois-based chain acquire the remaining 55% of Alliance Boots that it does not already own in a deal costing in the region of £5bn.

However, Walgreens is expected to announcement that it intends to remain a headquartered in the U.S. rather than pursuing a controversial tax inversion scheme which would involve moving its corporate headquarters to the UK or Switzerland.

In a complex transaction, in June 2012, Walgreens bought a 45pc stake for $6.7bn (£4bn), valuing Alliance Boots at the time, based on 2012 currency rates, at £10bn.

The American company, which has a market value of approximately value $64bn, retained an option to buy the remaining shares in the Swiss-based Alliance Boots in three years time.

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Christopher Durham is the president of My Private Brand and the co-founder of The Vertex Awards. He is a strategist, author, consultant and retailer who built brands at Delhaize-owned Food Lion, and lead strategy and brand development for Lowe’s Home Improvement. He has consulted with retailers around the world on their private brand portfolios including: Family Dollar, Petco, Staples, Office Depot, Best Buy, Metro (Canada), TLW (Taiwan) and Hola (Taiwan). Durham has published five definitive books on private brands, including his first book, Fifty2: The My Private Brand Project. In 2017, he will debut his newest book, Vanguard: Vintage Originals, a visual tour of innovation and disruption in private brand going back to the mid-1800’s. Dynamic in his presentation while down to earth and frank in his opinions, he has presented at numerous conferences, including FUSE, The Dieline Conference, Packaging that Sells, Omnishopper and PLMA’a annual trade show in Chicago. Durham lives in Charlotte, NC with his wife, Laraine, and two daughters, Olivia and Sarah.