Walgreens Taken Private by Sycamore Partners (~6.4x EBITDA)
- Will Hamilton
- Mar 11, 2025
- 2 min read
Updated: 1 day ago
On March 6, 2025, Walgreens Boots Alliance, Inc. (Nasdaq: WBA) entered into a definitive agreement to be acquired by New York‑based private equity firm Sycamore Partners in a take‑private transaction valued at up to $23.7 billion in total consideration. Under the terms of the deal, WBA shareholders received $11.45 per share in cash at closing plus a non‑transferable right to receive up to an additional $3.00 per share from the future monetization of Walgreens’ interests in its integrated healthcare businesses, including VillageMD, Summit Health and CityMD. The transaction reflects a significant shift in the retail pharmacy and healthcare services landscape, positioning Walgreens’ retail, pharmacy and ancillary healthcare assets for strategic transformation under private ownership.
Sycamore Partners, which is known for investing in consumer and retail businesses, plans to restructure Walgreens by operating it and related segments such as The Boots Group, CareCentrix and VillageMDÂ as standalone companies, with an eye toward unlocking value and refocusing operations.
Pharmacy / Infusion EBITDA Multiples
According to the fairness opinion, estimated 2025 revenue and adjusted EBITDA are $154.6 billion and $3.71 billion, respectively, implying multiples of 0.15x revenue and 6.4x EBITDA.
Pharmacy / Infusion M&A Deal Volume
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The Scope Research Healthcare M&A Valuation Database currently has financial details related to 83 pharmacy and infusion therapy deals, segmented by type, including 70 deals with disclosed EBITDA multiples. The data can be purchased individually, while our affordable annual subscriptions provide access to all of our healthcare M&A databases and segments, updated continuously.
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