Walgreens Boots Alliance will sell its Alliance Healthcare wholesale business to AmerisourceBergen Corporation for approximately $6.5 billion. The transaction will let Walgreens focus on its core retail pharmacy businesses, expand its offerings and accelerate progress on strategic priorities.
Additionally, Boots and AmerisourceBergen will strengthen their strategic partnership by extending and expanding their commercial agreements. A U.S. distribution agreement will be extended by three years, until 2029, and the partnership now includes a commitment to pursue additional opportunities in sourcing and distribution. Alliance Healthcare UK will remain the distribution partner of Boots until 2031.
“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,” said Stefano Pessina, Executive Vice Chairman and CEO, Walgreens Boots Alliance in a statement. “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.”