Walgreens Acquires Drugstore.com

Matt Moog

Blogs



Drugstore juggernaut Walgreens this morning announced that it will acquire online retailerDrugstore.com in a transaction with a total enterprise value of approximately $409 million.



As a result of the merger, Walgreens will acquire theDrugstore.com website in addition to other websites operated by the company, includingBeauty.com and SkinStore.com.



Walgreens, which operates 7,689 drugstores across the United States, had fiscal 2010 sales of $67 billion. Walgreens will fund the acquisition with existing cash and anticipates the transaction to close by the end of June 2011.



Founded in 1998, Drugstore.com registered more than $456 million in sales in 2010. Walgreens says it will maintain drugstore.com’s corporate office in Bellevue, Washington, after the merger is completed. Drugstore.com employs approximately 1,000 people.

 

http://techcrunch.com/2011/03/24/boom-walgreens-buys-online-retailer-drugstore-com-for-409-million/

Post a comment

or Create an Account to post comments

Comments

Kristopher Kubicki

This is big news for me - Walgreens really dropped the ball on their own ecom options so I'm glad they made the effort to buy someone.  Good stuff :)

Oh no!

You're fresh out of job post credits.

Buy more job post creditsUpgrade to unlimited plan
Where Chicago's Startup Community goes to stay connected.
  • news
  • jobs
  • events
  • networking

Sign Up Today!

Let startups find you

Create a profile and upload your resume today.