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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.