Drugstore juggernaut Walgreens this morning announced that it will acquire online retailer Drugstore.com in a transaction with a total enterprise value of approximately $409 million.
As a result of the merger, Walgreens will acquire the Drugstore.com website in addition to other websites operated by the company, including Beauty.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.
Same here, I spend way too much time at Walgreens and Wal-Mart! But they just have everything I need at any given time..
Back to the topic, $409 Million is a pretty penny. Although, I think Walgreens will definitely profit 10 fold from this sale, it's a good move on their part.
Same here, I spend way too much time at Walgreens and Wal-Mart! But they just have everything I need at any given time..
Back to the topic, $409 Million is a pretty penny. Although, I think Walgreens will definitely profit 10 fold from this sale, it's a good move on their part.
I agree, especially with Beauty.com and SkinStore.com as part of the deal.
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