Move marks first international venture for drugstore chain
Posted June 19, 2012
Deerfield, Ill.-based Walgreen Co. is buying a 45 percent stake in European health and beauty retailer Alliance Boots for $6.7 billion in cash and stock, Crain's Chicago Business reports.
Switzerland-based Alliance Boots operates more than 3300 health and beauty retail stores in 11 countries. As part of the deal, Walgreen has an option to buy the rest of the company in about three years.