Pharmacy With 450+ New York Locations has Been Sold

A new deal could be what saves one of the numerous drugstore chains that have been struggling over the last few years.

Most of us rely on one of the national drugstore chains across the country to get our medications and more each month. If you haven't noticed, most of them have been struggling over the last few years. Back in January we learned that one of them was in the early stages of a new plan to close 1,200 of its roughly 8,500 U.S. locations over the next few years.

Walgreens Closing Stores

After reporting a massive loss at the end of 2024, Walgreens announced they would be closing 500 locations across the country in 2025, as they attempt to reverse years of losing money. Industry experts have hinted that the best way for Walgreens to reverse its fortunes would be to find a buyer that would be willing to purchase the struggling company.

Walgreens Sold!

According to WRGB, Walgreens Boots Alliance, the publicly traded company that owns Walgreens, has agreed to be acquired by the private equity firm Sycamore Partners. Sycamore will reportedly pay shareholders $11.45 per share, making it a deal worth around $10 billion (equity). The buyout will take the drugstore private and allow it to have more flexibility to make changes to improve its business without worrying about its stock price.

SEE ALSO: Retail Giant Closing 21 Stores in New York

It's unclear if the new deal will change the company's previously announced plans to shutter 1,200 of its roughly 8,500 U.S. locations. Walgreens has already closed about a thousand U.S. stores since it grew to nearly 9,500 locations in 2018. The Walgreens in Ellenville, New York is scheduled to close on March 19th. Walgreens currently has over 450 locations across New York including stores in Poughkeepsie, Highland, Wappingers Falls, New Paltz, and Newburgh, NY.