US Pharm. 2010;35(3):5.
Deerfield, IL -- Walgreens has announced that it will purchase the entire 257-store Duane Reade chain, all located in the New York City area. The deal, which is contingent upon regulatory approvals, is valued at $1.08 billion. Duane Reade will continue to operate under its brand name after the transaction closes by the end of the summer. Walgreens said that it expects to retain Duane Reade's store, pharmacy, and distribution-center employees and many members of Duane Reade's senior management team. Walgreens currently operates more than 7,100 retail outlets across the United States. “Duane Reade is a compelling strategic acquisition that will immediately provide Walgreens with a leading position in the largest drugstore market in the U.S.,” said Walgreens President and CEO Greg Wasson.