Walgreens to Acquire Duane Reade

DEERFIELD, Ill.--Walgreens has struck a deal to acquire the Duane Reade pharmacy chain from Oak Hill Capital Partners.

The purchase price, all in cash, is $1.075 billion, which includes the assumption of debt, according to a joint statement from the two companies. The deal includes all 257 Duane Reade stores in the New York City metropolitan area, along with the chain's corporate office and two distribution centers. The statement put Aug. 31 as the target date for the closing of the transaction.

Duane Reade will continue to operate under its own name after the closing, the statement said, and Walgreens intends to keep "many members" of Duane Reade's senior management team.

Walgreens posted home-furnishings sales of nearly $1.8 billion in 2008, ranking it number 21 on HFN's list of top 100 home-furnishings retailers.

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.

Videos

Current Issue

  • HFN May digital issue

    HFN's DIGITAL EDITION

    May 2017


    COVER STORY: HFN Turns 90

    We commemorate HFN's 90th anniversary by paying tribute to the iconic retailer and supplier brands--and the people--that have helped the industry flourish, then and now.


    ALSO IN THIS ISSUE:

    • Up & Coming Leaders - The home industry is in capable and visionary hands as this year’s 40 Under 40 list attests. Today’s young leaders span all disciplines and varied levels of operation.
    • Omnichannel Retailing - In the Mobile App World, Time is Money