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Walgreens Is Officially Privately Held With New CEO From Staples

Walgreens faces financial challenges including losses exceeding $8 billion largely due to failed expansions, prompting leadership changes and acquisition by Sycamore Partners.

  • Walgreens officially became a privately held company on August 28, 2025, after completing a $10 billion acquisition by Sycamore Partners and Stefano Pessina.
  • The sale followed years of financial struggles from Walgreens' investment in healthcare clinics and declining retail and pharmacy margins amid a challenging retail pharmacy market.
  • Walgreens closed underperforming clinics, planned to cut 1,200 of its approximately 8,500 U.S. stores, and separated into five independent businesses, including VillageMD and Boots Group.
  • New CEO Mike Motz, formerly of Staples and appointed by Sycamore, said Thursday Walgreens is entering an "exciting new chapter" focused on its retail pharmacy and customer experience.
  • Going private grants Walgreens flexibility to address financial challenges without Wall Street pressures, though concerns remain about debt levels and private equity ownership impacts.
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20 Articles

Associated Press NewsAssociated Press News
+6 Reposted by 6 other sources
Lean Left

Sycamore Partners finishes deal to take drugstore chain Walgreens private

The private equity firm Sycamore Partners has completed its acquisition of Walgreens, ending the drugstore chain’s run as a publicly traded company.

·United States
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BloombergBloomberg
Lean Left

Walgreens Replaces CEO and Splits Up After Sycamore Acquisition

Walgreens replaced its chief executive officer after being acquired by the private equity company Sycamore Partners on Thursday.

·United States
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ForbesForbes
Center

Walgreens Is Officially Privately Held With New CEO From Staples

Walgreens is officially privately held with a new CEO who formerly ran Staples following the closing of the company’s sale to private equity firm Sycamore Partners.

·United States
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healthcaredive.comhealthcaredive.com
Center

Sycamore Partners closes Walgreens acquisition, splits retailer into 5 companies

The deal’s closure also comes with a raft of leadership changes. Mike Motz, the former CEO of Staples U.S. Retail, has been appointed as Walgreens CEO effective immediately.

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The spokesman-ReviewThe spokesman-Review
Lean Left

Walgreens replaces CEO and splits up after Sycamore acquisition

Walgreens replaced its chief executive officer after being acquired by the private equity company Sycamore Partners on Thursday.

·Spokane, United States
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El CEOEl CEO

Pharmacies Benavides Changes Owner: Sycamore Buys Walgreens Boots

Farmacias Benavides reported that its parent Walgreens Boots Alliance (WBA) was acquired by subsidiaries of Sycamore Partners Management, in partnership with Stefano Pessina and his family, who have reinvested 100% of their stake in the company. Farmacias Benavides is not part of that transaction directly, and there is no change in its direct shareholders specified in a statement sent to the Mexican Stock Exchange (BMV). In January 2015, the US …

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The spokesman-Review broke the news in Spokane, United States on Thursday, August 28, 2025.
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