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LIST OF KEY MERGERS & ACQUISITIONS OF WALGREENS OVER THE YEARS
- Acquired malted milkshake company started by Walgreens employee Ivar “Pop” Coulson (1922)
- Acquired Sanborns pharmacy and department store chain in Mexico (1946)
- Acquired MediMart pharmacy chain from Stop & Shop (1986)
- Acquired Happy Harry’s pharmacy chain (2006)
- Acquired Duane Reade pharmacy chain in New York City area (2010)
- Acquired 45% stake in Alliance Boots (2012)
- Acquired USA Drug, Super D Drug, May’s Drug, Med-X, and Drug Warehouse pharmacy chains (2012)
- Acquired Kerr Drug pharmacy chain (2013)
- Acquired remaining 55% stake in Alliance Boots to fully merge companies into Walgreens Boots Alliance (2014)
- Acquired pharmaceutical company Almus (2014)
- Acquired 1,932 Rite Aid pharmacy stores (2017)
MALTED MILKSHAKE COMPANY
In 1922, Walgreens employee Ivar “Pop” Coulson transformed the standard malted milk by adding vanilla ice cream, creating the Walgreens milkshake.
The company bought Coulson’s recipe and sold these milkshakes for 20 cents at their soda fountains.
The drink’s popularity turned Walgreens stores into social hubs for teenagers and set the company apart from other pharmacies in the 1920s.
SANBORNS
Walgreens bought Sanborns, a major Mexican retail chain, in 1946.
The purchase gave Walgreens its first international presence through Sanborns’ network of pharmacies and department stores.
After 36 years of ownership, Walgreens sold Sanborns to Grupo Carso in 1982 to concentrate on its U.S. pharmacy operations.
MEDIMART
In 1986, Walgreens purchased MediMart from Stop & Shop, adding 80 pharmacy locations to its network.
The acquisition targeted MediMart’s established presence in the Northeast retail market.
Though financial terms remained private, Walgreens gained prime store locations and detailed prescription records.
HAPPY HARRY’S
Walgreens acquired Happy Harry’s pharmacy chain in July 2006, gaining 76 stores across Delaware, Pennsylvania, Maryland and New Jersey.
This purchase expanded Walgreens’ East Coast presence as part of its strategy to absorb regional competitors.
The deal, with undisclosed terms, secured prime retail locations in northeastern markets.
DUANE READE
In 2010, Walgreens bought Duane Reade, New York City’s largest pharmacy chain, for $1.075 billion.
The purchase secured Walgreens’ dominance in New York’s pharmacy market, while maintaining the Duane Reade brand name on select stores.
ALLIANCE BOOTS
In June 2012, Walgreens bought a 45% stake in Alliance Boots, Europe’s largest pharmacy retailer and drug distributor, for $6.7 billion.
This Swiss-based investment marked Walgreens’ first major step beyond the U.S. market.
While Walgreens held minority ownership, the deal laid groundwork for a future merger between both companies.
USA DRUG, SUPER D DRUG, MAY’S DRUG, MED-X, & DRUG WAREHOUSE
In 2012, Walgreens bought 144 pharmacies across the Midwest and South, including USA Drug, Super D Drug, May’s Drug, Med-X, and Drug Warehouse.
This purchase expanded Walgreens’ presence in new markets by acquiring established local pharmacy brands.
KERR DRUG
Walgreens bought Kerr Drug’s 76 North Carolina stores in September 2013, expanding its presence in the Southeast and absorbing a regional competitor.
The acquisition gave Walgreens established retail locations, existing customer relationships, and distribution networks across North Carolina.
WALGREENS BOOTS ALLIANCE
Walgreens bought Alliance Boots in two steps: 45% in 2012, then the remaining 55% for $5 billion in 2014.
The merger united America’s biggest pharmacy chain with Britain’s leading drug wholesaler under the name Walgreens Boots Alliance.
With headquarters in Illinois and Switzerland, the company now controlled drug markets in both North America and Europe.
ALMUS
In 2014, Walgreens acquired Almus Pharmaceuticals, a Mexican manufacturer of specialty generic drugs, from Acino.
While the purchase price remained private, this vertical integration gave Walgreens direct control over generic drug production and distribution.
RITE AID
Walgreens bought 1,932 Rite Aid stores for $4.38 billion in 2017, after regulators blocked its earlier attempts to acquire the entire company.
This purchase made Walgreens the largest U.S. pharmacy chain, with over 10,000 locations.
