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5h ago

Walgreens Goes Private as Sycamore Closes Deal, Names Mike Motz CEO

The new owners signal a return to core pharmacy and retail following losses from the VillageMD strategy.

FILE - The Walgreens logo on a pharmacy and retail store, Aug. 13, 2025, in Newton, Mass. (AP Photo/Charles Krupa, File)
Walgreens Boots Alliance logo is seen in this illustration taken February 11, 2025. REUTERS/Dado Ruvic/Illustration

Overview

  • Sycamore Partners completed a $10 billion acquisition on August 28, 2025, taking Walgreens Boots Alliance private.
  • Shareholders receive $11.45 per share in cash plus a non-transferable right worth up to $3 tied to future monetization of Walgreens' VillageMD interests.
  • Sycamore partnered with longtime shareholder Stefano Pessina, who reinvested 100% of his Walgreens Boots Alliance stake.
  • Mike Motz, formerly CEO of Staples US Retail and a past president of Shoppers Drug Mart, became chief executive as John Lederer was appointed executive chairman.
  • Tim Wentworth stepped down as CEO but remains on the board as Walgreens pivots back to its core pharmacy and retail business after VillageMD-related losses contributed to a fiscal 2024 net loss of more than $8 billion.