Walgreen and Alliance Boots closed a deal to form a new holding company with the global expansion in mind. This is the first tie up for the retail pharmacy industry. The private equity firm Kohlberg Kravis Roberts & Company sold off its remaining stakes in the Alliance Boots to Walgreen. As a part of the deal the new Walgreen Boots Alliance Inc. (WBA) is going to trade on NASDAQ with the ticker symbol “WBA”. Walgreen shareholders approved acquisition of the remaining 55 percent share of Alliance Boots earlier this week. Walgreen is now a subsidiary of the combined Walgreens Boots Alliance which will be headquartered in Deerfield. In 2012 Walgreen bought 45 percent stake in Switzerland based Alliance Boots for $6.7 billion. According to the agreement they have the option to buy the remaining 55 percent share later.
Walgreen began in 1901, with a corner drug store in Chicago. As of 2014 they have opened 8,217 stores in 50 states across USA, they also have key markets in Asia and South America. On the other hand Alliance Boots has their presence over 27 countries.