// Walgreens Boots Alliance sells majority of its Alliance Healthcare wholesale & distribution business in £4.8bn deal
// The sale would allow it to increase its focus on its core retail pharmacy business
// Alliance Healthcare UK would remain as Boots’ distribution partner until 2031, despite the sale
Walgreens Boots Alliance has agreed a $6.5 billion (£4.8 billion) deal to sell the majority of its Alliance Healthcare wholesale and distribution business in a bid to focus more on its retail operations.
The Boots parent company said it agreed a deal to sell the business, previously called Alliance UniChem, to US drug wholesaler AmerisourceBergen.
It said the buyer would acquire the majority stake for $6.28 billion in cash and two million AmerisourceBergen shares.
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Walgreens Boots Alliance told investors today that the sale would allow it to increase its focus on its core retail pharmacy business.
It added that Alliance Healthcare UK would remain as Boots’ distribution partner until 2031, despite the sale.
In the US, Alliance will continue its distribution partnership for Walgreens Boots Alliance until 2029.
Walgreens Boots Alliance is the largest investor in AmerisourceBergen, owning an almost 30 per cent stake, after the companies launched a partnership in 2013.
“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,” Walgreens Boots Alliance chief executive Stefano Pessina said.
“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.”
with PA Wires