Walgreens is America's largest drugstore chain by revenues, and also now the leader by store outlets, as a result of a series of regional acquisitions, including the famous Duane Reade drugstore chain in New York, added in 2010. (Competitor CVS/Caremark is bigger by total revenues because of its large pharmacy benefits management division). Walgreens has come to position itself as the "front line" for the delivery of healthcare services in the US, with an expanding networking of in-pharmacy and worksite healthcare clinics, offering diagnosis and treatment for minor ailments. However it also sells a broad range of non-healthcare products, giving it a growing presence in the convenience store segment. In 2012, the group made a big jump into Europe, agreeing to acquire a 45% stake in local retailer and wholesaler Alliance Boots. It plans to take full control in 2015.
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Adbrands Weekly Update 22nd May 2014: US pharmacy giant Walgreens is said to be weighing up a plan to reverse into its 45%-owned European partner Alliance Boots, in order to shift its tax base out of the US. Alliance Boots, which controls an extensive pharmaceutical wholesale network across Europe, as well as pharmacy retailer Boots, reported strong performance for its latest financial year to March. Net profits jumped by 31% to £971m on revenues up 4% to £23.4bn. The strongest performance came from wholesaling, with revenues up 4.8%, compared to 2.4% in health & beauty retail. Walgreens has an option to acquire the 55% stake in Alliance Boots it doesn't already own from February 2015.
Adbrands Weekly Update 22nd Aug 2013: Pharmacy giant Walgreens made changes to the management structure of its UK partner Alliance Boots. Alex Gourlay, previously head of Boots' health & beauty retail business, has transferred to a new role as group EVP, customer experience & daily living for Walgreens US. He will oversee further integration of Boots' own-label products into the Walgreens network, as well as US merchandising and marketing. His former role has been split, with Simon Roberts promoted to managing director, Boots health & beauty UK & Ireland, while Ken Murphy becomes managing director, health & beauty international & brands.
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