Sycamore Partners ends the deal to take a special Walgrens pharmacy chain

Derfield, Illinois (AFP) – Getting acquired Walgrens By a private stock company, it ends the operation of the pharmacy chain as a company circulating for the public.

Walgrens said on Thursday that former Staples leader Mike Motz will become his new CEO, to replace Tim Wintworth.

Walgrens announced in March that it had agreed to obtain it by SYCAMORE PARTNERS in a deal worth about $ 10 billion. that it The shareholders agreed That deal last month.

Walgrens, like her competitors, was struggling by paying a prescription, continuous theft and high operating costs among other challenges. The company’s private go is more flexible to make changes to improve its business without worrying about the Wall Street reaction.

Struggle pharmacy chain He said last fall She planned to close 1,200 of approximately 8,500 American stores. This year started with solutions Sponsoring profit distribution suspension It has been offered for more than 90 years.

The shares of Deerfield, Illinois, which was the Dow Jones Industry Media last year, closed on Wednesday at $ 11.98. The share price has increased by 28 % so far this year, but it has given most of its value since it reached 97 dollars to reach its highest levels ever.