Friday, June 3, 2011

Drugstore.com Acquisition Completes

The acquisition of Bellevue-based Drugstore.com by Walgreens has completed, Walgreens said this morning. Walgreens paid $409M for Drugstore.com, in a deal which was originally announced in March. Walgreens said the acquisition would complement its existing retail drugstores. Drugstore.com's operations will be led by Walgreen President Sona Chawla, with former Drugstore.com CEO and Chairman Dawn Lepore acting as a strategic advisor through a transition period. Walgreens has not detailed how the acquisition will affect the more than 1,000 employees at Drugstore.com.