Walgreens Boots Alliance Sells Cencora Shares, Gains $400 Million
Walgreens Boots Alliance, Inc. (Nasdaq: WBA) announced the sale of shares in Cencora, Inc. (NYSE: COR) through a share repurchase by Cencora, yielding approximately $400 million.
Following the transaction, Walgreens Boots Alliance’s ownership in Cencora’s common stock has decreased from roughly 13 percent to about 12 percent.
The proceeds will be primarily allocated for debt reduction and general corporate purposes, supporting Walgreens Boots Alliance’s efforts to develop a more capital-efficient health services strategy rooted in its retail pharmacy operations. This approach aims to enhance community care and create value for partners.
This sale does not affect the long-term strategic partnership between the two companies. Walgreens Boots Alliance remains committed to its strong, mutually beneficial relationship with Cencora, a trusted partner since 2013. Ornella Barra, Chief Operating Officer, International of Walgreens Boots Alliance, will continue to serve on Cencora’s Board of Directors.
Walgreens Boots Alliance is an integrated healthcare, pharmacy and retail leader serving millions of customers and patients every day, with a 170-year heritage of caring for communities.
A trusted, global innovator in retail pharmacy with approximately 12,500 locations across the U.S., Europe and Latin America, WBA plays a critical role in the healthcare ecosystem. The Company is reimagining local healthcare and well-being for all as part of its purpose – to create more joyful lives through better health. Through dispensing medicines, improving access to a wide range of health services, providing high quality health and beauty products and offering anytime, anywhere convenience across its digital platforms, WBA is shaping the future of healthcare.
WBA employs more than 315,000 people and has a presence in eight countries through its portfolio of consumer brands: Walgreens, Boots, Duane Reade, the No7 Beauty Company and Benavides in Mexico. Additionally, WBA has a portfolio of healthcare-focused investments located in several countries, including China and the U.S.
The Company is proud of its contributions to healthy communities, a healthy planet, an inclusive workplace and a sustainable marketplace. WBA has been recognized for its commitment to operating sustainably: the Company is an index component of the Dow Jones Sustainability Indices (DJSI) and was named to the 100 Best Corporate Citizens 2022.
