Boots Company Acquired by Walgreens’
It has been revealed in a recent report that retailer Walgreens of America has taken over a partial share of the private equity firm KKR.
A 45% hold has been made by the company with a promise of holding back the rest of the shares within the coming three years. The report says that the share in Alliance Boots would probably make the chemist's No7 make-up range a global brand.
As per the findings, the Boots No7 however, does not bring fewer sales currently as it is equivalent to nearly £200m each year. But, the takeover may increase the sales up to the $1bn with the complete shares held by Walgreens'.
Since, the company aims to spread the global chain in atleast 25 countries. It is being said that the brand would be introduced in almost every branch of the total 6000 branches.
Boots is the only anti-ageing facial cream that is more effective than regular moisturizers. Amaxingly, the quality made it make a sales equivalent to whole one-year's sales merely in two weeks in 2007.
"It would be suicide to come in and compete with these guys", said Stefano Pessina, who is now Boots' executive chairman and has been linked with Walgreens to complete the deal.
New Zealand News
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