Walgreens Set for Acquisition by Sycamore Partners
Deal News | Mar 07, 2025 | Ropes & Gray
Ropes & Gray has been appointed as the health care regulatory counsel by Walgreens Boots Alliance (WBA) for its acquisition by Sycamore Partners. The deal, valued at up to $23.7 billion, marks one of the most significant transactions in the retail pharmacy sector. Announced on March 6, the acquisition is set to be finalized in the fourth quarter of 2025, contingent upon shareholder and regulatory approvals. WBA, a major player in the pharmacy retail industry with 311,000 employees across eight countries, operates prominent consumer brands such as Walgreens, Boots, and Duane Reade. Ropes & Gray's team, led by partners Adrianne Ortega, Tim McCrystal, and Lincoln Tsang, provided expertise in managing health care regulatory concerns vital to the completion of this transaction.
Sectors
- Retail Pharmacy
- Private Equity
- Legal Advisory
Geography
- United States – Walgreens, a primary brand of WBA, is a major retail pharmacy chain in the United States.
- International – WBA operates in eight countries, highlighting the international dimension of the acquisition.
Industry
- Retail Pharmacy – The article revolves around the acquisition of Walgreens Boots Alliance, a key player in the retail pharmacy industry.
- Private Equity – Sycamore Partners, a private equity firm, is the acquirer in this high-value transaction.
- Legal Advisory – Ropes & Gray's involvement as advisors emphasizes the legal advisory services industry, particularly in healthcare regulations.
Financials
- $23.7 Billion – The total value of the acquisition deal between Sycamore Partners and Walgreens Boots Alliance.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Walgreens Boots Alliance | Target | Company | A leading retail pharmacy with approximately 311,000 employees, involved in the transaction as the target company. |
| Sycamore Partners | Bidding Company | Company | A private equity firm acquiring Walgreens Boots Alliance for $23.7 billion. |
| Ropes & Gray | Legal Advisor | Company | Provided health care regulatory advice to Walgreens Boots Alliance during the acquisition process. |
| Adrianne Ortega | Healthcare Partner | Person | A lead partner from Ropes & Gray advising on the transaction. |
| Tim McCrystal | Healthcare Partner | Person | Another lead partner from Ropes & Gray involved in the transaction. |
| Lincoln Tsang | Head of European Life Sciences | Person | A Ropes & Gray partner focusing on the European life sciences practice. |
| Peter Holman Jr. | Healthcare Counsel | Person | A partner providing counsel on healthcare matters. |
| Elizabeth Whitkin | Healthcare Counsel | Person | A healthcare counsel from Ropes & Gray. |
| Richard Harris II | Healthcare Associate | Person | A healthcare associate contributing to Ropes & Gray's advisory team. |