Is Walgreens a subsidiary of a bigger company?

Yes. Walgreens operates as Walgreen Co., a standalone company owned by Sycamore Partners through the former Walgreens Boots Alliance holding structure. It separated from the WBA umbrella in August 2025.

Is Walgreens publicly traded?

No. Walgreens Boots Alliance stock was delisted from NASDAQ on August 28, 2025, when the Sycamore Partners acquisition closed. There is no way to buy Walgreens shares.

When was Walgreens founded?

Charles R. Walgreen opened his first Chicago drugstore in 1901. The chain grew to more than 500 stores by 1929 and went public in 1927.

Who owns Walgreens in 2026?

Sycamore Partners, a New York private equity firm, in partnership with the family of former WBA chairman Stefano Pessina. Mike Motz serves as CEO of Walgreen Co.

How many Walgreens stores are there?

Approximately 8,000 across the United States, Puerto Rico, and the U.S. Virgin Islands as of mid-2026. The company plans to close a cumulative 1,200 to 1,300 stores by the end of fiscal 2027.

Is Duane Reade part of Walgreens?

Yes. Walgreens acquired Duane Reade in 2010, and it operates about 90 stores in the New York City area under the Walgreen Co. standalone company.

Healthcare & Pharmaceuticals

Who Owns Walgreens?

Walgreens is owned by Sycamore Partners through Walgreens Boots Alliance. The private equity firm completed its roughly $10 billion acquisition on August 28, 2025, taking the company private and spinning Walgreens out as a standalone business led by CEO Mike Motz. Walgreens operates about 8,000 U.S. stores and serves more than 9 million customers daily.

Parent Company

Walgreens Boots Alliance

Acquired

2025

Status

Private

Headquarters

Deerfield, Illinois, USA

Walgreens Timeline

1901

Walgreens

Founded by Charles R. Walgreen

Founded

2025

Acquired by Walgreens Boots Alliance

Walgreens Boots Alliance acquired Walgreens

Acquired

mid rangemass marketUnited StatesOfficial Website

Who Owns Walgreens?

Parent Company: Walgreens Boots Alliance
Ownership Type: Subsidiary
Acquisition Year: 2025
Company Type: Privately Held

Brand	Parent Company	Ownership Type
Walgreens	Walgreens Boots Alliance	Subsidiary

Where to Buy

Disclosure: We may earn commission from purchases

Walgreens on Amazon

History of Walgreens

Founded: 1901
Founders: Charles R. Walgreen
Acquired by Walgreens Boots Alliance: 2025

Charles R. Walgreen opened his first drugstore in Chicago in 1901, having bought the store where he worked as a pharmacist. By 1916 he had nine stores and incorporated the Walgreen Company. The chain became famous during Prohibition for selling whiskey under prescription, a legal loophole that powered rapid expansion to more than 500 stores by 1929.

Walgreens went public in 1927 and kept expanding through the twentieth century, pioneering self-service drugstore formats, drive-through pharmacy windows in the 1990s, and computerized pharmacy networks linking all stores. It became the largest drugstore chain in the United States by store count and prescriptions filled.

In 2010, Walgreens acquired the New York City chain Duane Reade for approximately $1.1 billion, cementing its position in the country's largest metro market. In 2012, it bought a 45% stake in Alliance Boots, the European pharmacy and beauty company, and completed the full acquisition in 2014 to form Walgreens Boots Alliance.

The 2020s were difficult. Prescription reimbursement pressure, front-of-store retail decline, theft, and the costly VillageMD primary care expansion dragged results. In October 2024, the board approved a footprint optimization plan to close 1,200 to 1,300 U.S. stores by the end of fiscal 2027. In March 2025, WBA agreed to be acquired by Sycamore Partners, and the deal closed August 28, 2025.

Since going private, Walgreens has operated as an independent company under Mike Motz, focusing on store experience, pharmacy services, and cost discipline without quarterly earnings pressure.

About Walgreens Boots Alliance

Is Walgreens Boots Alliance publicly traded?
No. WBA was delisted from Nasdaq on August 28, 2025, when Sycamore Partners completed its acquisition. The company is now privately held and its businesses operate as standalone companies.

Who acquired Walgreens Boots Alliance?
Sycamore Partners, a New York-based private equity firm, acquired WBA in partnership with the family of former executive chairman Stefano Pessina. The deal closed August 28, 2025, paying shareholders $11.45 per share plus contingent value rights, valued at roughly $10 billion for equity and $23.7 billion including debt.

Who is the CEO of Walgreens Boots Alliance?
Following the Sycamore split, the former WBA businesses have separate leadership. Mike Motz, formerly CEO of Staples US Retail, is CEO of Walgreen Co. Former WBA CEO Tim Wentworth (appointed October 2023) remains a director.

What is Walgreens Boots Alliance's revenue?
Walgreens Boots Alliance reported FY2024 revenue of $147.7 billion (fiscal year ended August 31, 2024). The company reported a net loss of $8.8 billion, primarily due to a $5.8 billion VillageMD impairment charge and other goodwill write-downs. Adjusted EBITDA was approximately $4.1 billion.

Why is Walgreens closing stores?
Walgreens announced plans to close approximately 1,200 underperforming U.S. stores as part of a turnaround strategy. The closures reflect declining retail pharmacy margins, competition from online retailers, and the need to optimize the company's physical footprint. The closures have raised concerns about pharmacy access in underserved communities.

What is VillageMD?
VillageMD is a primary care provider in which Walgreens Boots Alliance holds a majority stake. WBA invested $5.2 billion in VillageMD in 2021 with plans to open co-located clinics inside Walgreens stores. The investment has struggled financially, resulting in a $5.8 billion impairment charge in FY2024. WBA has announced plans to reduce its stake in VillageMD.

When was Walgreens Boots Alliance founded?
Walgreens Boots Alliance was formed on December 31, 2014, through the merger of Walgreens and Alliance Boots. Walgreens was founded in 1901 by Charles R. Walgreen Sr. in Chicago. Boots was founded in 1849 by John Boot in Nottingham, England.

Founded: 2014
Headquarters: Deerfield, Illinois, USA
Company Type: Privately Held
Revenue: $147.7 billion (FY2024)
Employees: ~330,000

Visit Walgreens Boots Alliance website

View full company profile for Walgreens Boots Alliance

Where Is Walgreens Made / Based?

Headquarters: Deerfield, Illinois, USA
Manufacturing / Operations: United States

Walgreens Categories & Tags

Pharmacy Drugstore Retail Pharmacy Healthcare Convenience

Walgreens Recalls & Controversies

Walgreens has faced recurring regulatory and public scrutiny. In 2024, a federal judge ruled that Walgreens contributed to San Francisco's opioid crisis through lax dispensing controls, part of a broader wave of pharmacy opioid litigation that produced multibillion-dollar settlements across the industry. Walgreens previously agreed to pay roughly $5.7 billion over 15 years in a national opioid settlement framework.

The chain has also drawn criticism for staffing levels and pharmacist workloads, including 2023 walkouts by pharmacy staff over working conditions. Store closures under the footprint program have generated local pushback in cities losing neighborhood pharmacies. Rite Aid's collapse and CVS's parallel restructuring make pharmacy deserts an industry-level policy issue.

Walgreens Ownership: Pros & Cons

Advantages

+Private ownership allows restructuring without quarterly earnings pressure
+Still the largest U.S. pharmacy footprint at roughly 8,000 stores
+More than 9 million daily customer and patient relationships
+New retail-focused leadership under Mike Motz
+Standalone structure separates the healthy pharmacy core from struggling assets

Considerations

-Private equity ownership carries leverage and exit-pressure risks
-Store closures shrink the retail footprint through 2027
-Thin prescription reimbursement margins remain a structural industry problem
-Front-of-store retail continues losing ground to e-commerce
-Opioid litigation payments continue for years

Frequently Asked Questions About Walgreens

Sources & Further Reading

Competitors to Walgreens

These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.

Brand	Parent Company	Country	Founded	Market Position	Primary Market	Gender Target
Duane ReadeSister Brand	Walgreens Boots Alliance	USA	1960	Mass market	United states	All Genders
Longs Drugs	Cvs Health	United States	1938	Mass market	United states	All Genders
Amazon Pharmacy	Amazon	USA	2020	Mass market	United states	All Genders
CVS Pharmacy	Cvs Health	USA	1963	Mass market	United states	All Genders
Health Mart	Mckesson	USA	1985	Mass market	United states	All Genders
Navarro Discount Pharmacies	Cvs Health	United States	1940	Mass market	Regional	All-ages