Walgreens Boots Alliance to sell the majority of wholesale business
Boots owner Walgreens Boots Alliance is to sell the majority of Alliance Healthcare to AmerisourceBergen in a deal worth around $6.5 billion.
In a statement, Walgreens Boots Alliance said the sale of the wholesale business will enable it to focus more on expanding its core retail pharmacy businesses.
In addition, the two companies have agreed to extend and expand their commercial agreements. Their US distribution agreement will be extended by three years until 2029 while Alliance Healthcare UK will remain the distribution partner of Boots until 2031.
Stefano Pessina, executive vice chairman and chief executive of Walgreens Boots Alliance, said: “This strategic agreement with AmerisourceBergen, which we consider to be the world’s leading pharmaceutical wholesaler, is a very positive development for the two companies.
“This deal will enable significant value creation for both companies and will generate new synergies in addition to those already captured. It is a logical step following the success of our long-term strategic relationship with AmerisourceBergen which has been a strong and trusted partner since 2013
“The transaction will fuel higher future investments to grow and transform our core retail pharmacy and healthcare businesses, and is EPS accretive long-term for Walgreens Boots Alliance.”
