Walgreens acquires Duane Reade

Published: 19-Feb-2010
Finance

US drugstore chain Walgreens is to buy New York retailer Duane Reade in a $1.1bn deal


US drugstore chain Walgreens is to buy New York retailer Duane Reade in a $1.1bn deal, Walgreens’ largest ever acquisition. The transaction will see the Chicago-based chain gain 257 stores in the New York metropolitan area. Pre-acquisition, Walgreens owned just 70 stores in and around the city.

Walgreens said that while Duane Reade will continue to operate under the Duane Reade name, it intends to harmonise the two brands over time.

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