You’ve probably walked into a Walgreens a thousand times to grab a prescription or a late-night bag of chips without ever wondering who actually cashes the checks at the top. For nearly a century, the answer was simple: "the public." If you had a few bucks in a brokerage account, you could technically be an owner.
But things changed. Big time.
If you're looking for the current owner of Walgreens, you won't find them on the Nasdaq anymore. As of late 2025, Walgreens Boots Alliance (WBA) officially ended its 98-year run as a public company.
It was a massive, $10 billion deal that shifted the keys to a New York-based private equity firm called Sycamore Partners.
The New Guard: Sycamore Partners and the Billionaire Partner
Honestly, the ownership structure is a bit more nuanced than just one big firm. While Sycamore Partners is the primary driver, they aren't flying solo. They pulled off this acquisition in a tight partnership with Stefano Pessina and his family.
If that name sounds familiar, it should. Pessina was the architect of the original merger between Walgreens and Europe’s Boots Alliance back in 2014. Instead of taking his cash and riding into the sunset during the 2025 buyout, Pessina doubled down. He reinvested 100% of his interests. Essentially, the "old" boss is still very much in the room, just behind a private curtain now.
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Why did they go private?
The retail world has been brutal. Between the rise of Amazon Pharmacy and the high costs of trying to turn every Walgreens into a mini-hospital with VillageMD, the stock price was getting hammered. By going private, the owners don't have to explain every quarterly loss to angry investors.
They can close stores, slash costs, and reorganize without a ticking clock.
Who Really Runs the Show Day-to-Day?
Owning a company and running it are two different beasts. When Sycamore took over, they didn't waste time swapping the leadership. They brought in Mike Motz as the new CEO.
Motz is a "retail guy" through and through. He previously ran Staples (another Sycamore company) and spent years at the top of Shoppers Drug Mart in Canada. The goal here is pretty obvious: get back to basics. They want Walgreens to feel like a store again, not just a struggling healthcare experiment.
The Breakup: It’s Not Just One Company Anymore
When we talk about the owner of Walgreens, we have to acknowledge that the old "Walgreens Boots Alliance" was basically shattered into five separate pieces after the sale. Sycamore now oversees these as standalone entities:
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- Walgreens: The US retail pharmacy we all know.
- The Boots Group: The UK and international side (which Sycamore is actually running out of the UK now).
- VillageMD: The primary care clinics.
- Shields Health Solutions: Specialty pharmacy care.
- CareCentrix: Home health coordination.
Separating them allows the owners to sell off the parts that aren't working—like VillageMD—without sinking the whole ship.
The Ghost of Charles R. Walgreen
It’s wild to think this all started with one guy in Chicago back in 1901. Charles R. Walgreen was the original owner of Walgreens, and his family kept a tight grip on the business for decades. In fact, a Walgreen was at the helm until 1998.
For a long time, the family name stood for "The Corner of Happy and Healthy." Today, the family's influence is mostly symbolic. The transition from a family business to a global conglomerate, and finally to a private equity-owned asset, tells the whole story of American retail in the 21st century.
What This Means for Your Local Pharmacy
You might be wondering if your local pharmacist is going to change. Probably not today. But under private ownership, the pressure to be "efficient" is much higher.
Expect to see:
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- More Store Closures: Sycamore is famous for trimming the fat. If a store isn't making money, it’s gone.
- Private Labels: More "Walgreens" brand products on the shelves because the profit margins are better.
- Digital Push: More focus on the app and delivery to compete with the big tech giants.
The transition to private ownership is basically a massive "reset" button. The owners are betting that by disappearing from the public eye for a few years, they can fix the brand's identity crisis and eventually sell it again or go public once more when the books look better.
Actionable Insights for Customers and Investors
If you were a shareholder, you've likely already received your payout of $11.45 per share (plus those weird "DAP" rights for extra cash later). If you're a customer, the "ownership" change might feel invisible at first, but keep an eye on your local store's inventory. Private equity owners often prioritize high-margin items (beauty, snacks) over the slower-moving pharmacy staples.
If you are looking to track the company's health now that they don't file public SEC reports, watch for news regarding Sycamore Partners' other holdings. Their success with brands like Staples often mirrors how they handle Walgreens—heavy on operational discipline and very aggressive on cost-cutting.
Next Steps:
Check your prescription records if your local store is on the "closure list" for 2026. With the new ownership focusing on "standalone profitability," many mid-performing locations are expected to be shuttered or merged with nearby 24-hour hubs.