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Stefano Pessina

Execs honored with Retailer of the Year awards

Execs honored with Retailer of the Year awards

NEW YORK — Racher Press Inc., the publisher of Chain Drug Review and Mass Market Retailers, presented its 2015 Retailer of the Year awards last evening in New York City. The annual event drew retailer and supplier executives from across the food, drug and mass channel to a ballroom at the new headquarters of Time

WBA acquisition of Rite Aid moves step closer to reality

WBA acquisition of Rite Aid moves step closer to reality

CAMP HILL, Pa. — Rite Aid Corp. stockholders voted overwhelmingly this month to approve the company’s $17.2 billion acquisition by Walgreens Boots Alliance Inc. (WBA). Some 97% of the votes cast at a special meeting of stockholders were in favor of the deal. A quorum of 72% of Rite Aid’s total outstanding shares of common

Pessina says WBA is on track for better things

Pessina says WBA is on track for better things

NEW YORK — Stefano Pessina likes what he sees after Walgreens Boots Alliance (WBA) finished its first full year as a unified company. WBA’s executive vice chairman and chief executive officer told shareholders at its annual meeting here that the company expects its deal to acquire Rite Aid Corp. and its partnership with Valeant Pharmaceuticals

Rite Aid shareholders OK Walgreens merger deal

Rite Aid shareholders OK Walgreens merger deal

CAMP HILL, Pa. — Rite Aid Corp. stockholders have voted overwhelmingly to approve the company’s $17.2 billion deal to be acquired by Walgreens Boots Alliance Inc. Approximately 97% of the votes cast at a special meeting of stockholders on Thursday were in favor of the deal. A quorum of 72% of Rite Aid’s total outstanding

Pessina: U.S. market WBA’s ‘greatest opportunity’

Pessina: U.S. market WBA’s ‘greatest opportunity’

NEW YORK — Walgreens Boots Alliance’s deal to acquire Rite Aid and partnership with Valeant Pharmaceuticals will build on WBA’s strong start in its first full year as a unified company, executive vice chairman and CEO Stefano Pessina said here at the annual shareholders meeting. “I am happy to say that we are on track

WBA starts off fiscal 2016 on strong note

WBA starts off fiscal 2016 on strong note

DEERFIELD, Ill. — Walgreens Boots Alliance (WBA) topped Wall Street’s earnings projections for its fiscal 2016 first quarter. WBA said Thursday that for the first quarter ended Nov. 30, 2015, adjusted net earnings attributable to Walgreens Boots Alliance were $1.13 billion, or $1.03 per diluted share, compared with $749 million, or 78 cents per diluted

Retailer of Year honors go to Pessina

DEERFIELD, Ill. — When asked what motivates him, Stefano Pessina, the driving force behind the creation of Walgreens Boots Alliance (WBA), says simply, “I like to build things.” The understated elegance of the response typifies the man, but it underplays the magnitude of his achievement. A savvy dealmaker, Pessina, who has a degree in nuclear

Pessina, Rite Aid team named Retailers of Year

Pessina, Rite Aid team named Retailers of Year

For 2015, the editors of Chain Drug Review have chosen to give the publication’s annual Retailer of the Year honors to two chain drug retail industry leaders: Stefano Pessina, executive vice chairman and CEO of Walgreens Boots Alliance Inc., and the management team at Rite Aid Corp., led by chairman and CEO John Standley. Pessina’s

Rite Aid shareholders ready to vote on WBA deal

Rite Aid shareholders ready to vote on WBA deal

CAMP HILL, Pa. — Rite Aid Corp. stockholders will vote next month on the company’s merger with Walgreens Boots Alliance (WBA). Rite Aid has scheduled a February 4 special stockholders meeting for the balloting. Stockholders as of the close of business on December 18 will be eligible to vote. Rite Aid and WBA also announced

Hopes of chain drug industry rest with new leaders

Hopes of chain drug industry rest with new leaders

Christmas is over, yesterday’s news. And the mass retailing community is scampering to assess its impact on sales, earnings and the future. For chain drug retailers, this holiday selling season, like so many before it, was acceptable, if hardly record-setting. As in previous years, America’s drug chains suffered from an absence of exciting new products

WBA shakes up industry with Rite Aid acquisition

WBA shakes up industry with Rite Aid acquisition

DEERFIELD, Ill. — The consolidation of chain drug retailing climaxed last month with Walgreens Boots Alliance Inc.’s (WBA’s) acquisition of Rite Aid Corp. In the largest outright purchase of a chain in the industry’s history, WBA agreed to acquire Rite Aid for $9 per share, or $17.2 billion, including debt. The price represents a premium

Transformative changes the norm at Walgreens

Transformative changes the norm at Walgreens

DEERFIELD, Ill. — The acquisition of Rite Aid Corp. culminates sweeping change at Walgreens in the space of a little over three years. In linking its fortunes, starting in June 2012, to Alliance Boots GmbH and its dynamic leader, Stefano Pessina, the chain adopted a global outlook focusing simultaneously on scale and ­efficiency. Its merger

Pessina motivates WBA to reach for more

Pessina motivates WBA to reach for more

Stefano Pessina is once again changing the face of community pharmacy. Three years after Alliance Boots, the global retail and distribution powerhouse he created, entered into a partnership with Walgreens, and less than a year after the two companies finalized their merger, Pessina has struck another deal that will reverberate throughout the U.S. health care

WBA sheds little light on Rite Aid deal

WBA sheds little light on Rite Aid deal

The morning after announcing its $17.2 billion agreement to acquire Rite Aid, Walgreens Boots Alliance (WBA) didn’t have much to say about the deal. In a conference call on WBA’s fiscal 2015 results, company executives cited the synergies of scale and broader U.S. market coverage that the addition of Rite Aid promises, but details weren’t

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