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Walgreens CEO Sees Positives In Consolidation Of US Drug Store Market, Seeks Geographic Expansion

December 1, 2016: 12:00 AM EST
Stefano Pessina, Walgreens CEO, sees large benefits from market consolidation, arguing that unified control brings efficiencies and the chance to deliver affordable care: “If there are many services are under the same head it’s easier to coordinate the dynamics and lead in an efficient way.” Walgreens Boots Alliance is currently working to close a $17 billion merger with Rite Aid, a combination that would bring together the world’s largest drugstore operator, Walgreens Boots Alliance, with its 13,000 stores in 11 countries, and Rite Aid that operates about 4,600 stores around the US, mainly on the East and West Coasts. Pessina seeks to expand geographically to become a truly national player with “an even presence everywhere in the U.S.”
Michela Tindera, "Walgreens CEO Stefano Pessina: 'Consolidation Is A Good Thing For This Market'", Forbes, December 01, 2016, © Forbes Media LLC
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