Walgreens to Be Acquired in Up to $24 Billion Deal (What Does That Mean for Shoppers?)
Walgreens will soon be acquired – what does that mean for its customers?
On March 6th, Walgreens announced that they are choosing to go private as a result of an agreement to be acquired by Sycamore Partners, a private equity firm specializing in retail, consumer, and distribution-related investments. Walgreens has been a public company since 1927.
In October 2024, Walgreens announced the possible closures of up to 1,200 stores, and unfortunately, more store closures are expected under this deal due to challenges in the healthcare and pharmacy sectors.
So, while this acquisition marks the end of Walgreens’ nearly 100 years of being a publicly traded company, its legacy will live on despite more store closures expected to be completed by 2027.
Any time private equity acquires a company they run it into the ground. They extract as much money as possible.
will my gift cards / merchandise cards still be good?
Good question, Joanne! We’ll keep watch for any information on this as it becomes available! 👀💗
I think it means say goodbye to Walgreens. Shame.
Hi! Do we need to rush to spend Walgreens Cash? Thanks.
Great question! Currently, there is no specific information indicating that the acquisition will impact the Walgreens Cash rewards program. Such programs typically continue without immediate changes during corporate transitions. However, future modifications to the rewards program could occur as the new ownership evaluates company operations.
If you have accumulated Walgreens Cash, it may be good to redeem your rewards in the near term to ensure you benefit from them under the current program terms. ❤️ Hope that’s helpful!
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No. In the app there is a statement from Walgreens that MyWalgreens rewards will stay the same. Just my opinion but I don’t think you will see that many changes at the store level immediately. I think Walgreens will try to make inroads against Pharmacy Benefits Management for major corporations since CVS has been eating their lunch on that part of the business. The ship is rocky but it is not going down this second.
Hi – I would highly recommend using your Walgreens Cash and any Walgreens gift cards you have. I had a $150 JC Penney gift card – and when they filed for bankruptcy, my gift card was useless. Fast forward – now they’re STILL in business, and yet my $150 JC Penney gift card is useless. Tsk, tsk – such a shame.
Glad I don’t rely on Walgreens like I used too, mostly because I don’t buy as much. But I will miss the Walgreens cash if they get rid of it, it’s been my favorite Walgreens saving program.