The Russian pharmaceutical wholesale business of Walgreens Boots Alliance, Alliance Healthcare Russia, has been sold to the country’s leading health and beauty retailer, 36.6.
Few details about the sale have been released, however it was confirmed that, following completion of the acquisition, Walgreens Boots Alliance will own a 15% stake in the 36.6 group.
According to Reuters, the integration of the acquired business will be carried out on the basis of its distribution unit, Good Distribution Partners. Headquartered in Moscow, 36.6 is listed on the Moscow Exchange (APTK). It operates roughly 1,000 stores in Moscow and the Moscow region, and employs around 4,800 people.
Reuters reports note that in 2013, 36.6 announced its plan to merge with rival pharmacy chain A.V.E. and issue additional shares. However, in 2015, it came to light that the Central Bank of Russia had suspended additional share issue of 36.6 taking place under the merger agreement.
