Overview

• Sycamore Partners completed the $10 billion acquisition of Walgreens Boots Alliance on August 28.
• The international operations have been separated into The Boots Group, headquartered in the UK and comprising Boots UK & Ireland, Boots Opticians, No7 Beauty Company, Thai retail pharmacies, Mexico’s Farmacias Benavides, Alliance Healthcare Germany and retail investments in China.
• Ornella Barra becomes chief executive, with senior leaders remaining in their roles, including Anthony Hemmerdinger as managing director of Boots UK & Ireland.
• Sycamore will operate Walgreens, VillageMD, CareCentrix and Shields Health Solutions as separate US-focused businesses.
• Stefano Pessina and his family reinvested their interests, with owners saying the standalone structure will enable faster investment and growth after 17 consecutive quarters of like-for-like gains.