Editing Walgreens (section)

== History ==

[[File:Old "Walgreen" sign, San Antonio.JPG|thumb|Early "Walgreen Drugs" sign still in use in [[San Antonio]], [[Texas]]|alt=Early "Walgreen Drugs" sign still in use in San Antonio, Texas]]

=== 20th century ===
Walgreens began in 1901, when [[Charles Rudolph Walgreen]] purchased a small food front store on the corner of Bowen and Cottage Grove Avenues in Chicago, where he had worked as a pharmacist.<ref>{{cite web
|url=
https://www.walgreens.com/topic/about/press/facts.jsp|title= Our History|publisher= Walgreens
|access-date= March 6, 2008}}</ref> Walgreen manufactured his own line of drug products. By 1913, Walgreens had grown to four stores on [[Chicago's South Side]]. It opened its fifth in 1915 and four more in 1916. By 1919, there were 20 stores in the chain.
[[File:Walgreens 2005 primary logo.svg|thumb|Logo used from 2005 to 2020]]
As a result of [[Prohibition in the United States|alcohol prohibition]], the 1920s were a successful time for Walgreens: although alcohol was illegal, Walgreens sold prescription whiskey.<ref>{{cite news |last=Segal |first=David |date=26 June 2010 |title=When Capitalism Meets Cannabis |newspaper=The New York Times |url=https://www.nytimes.com/2010/06/27/business/27pot.html}}</ref> This prescribed alcohol was sold at inflated price, compared to a [[speakeasy]].<ref>{{Cite book |last1=Goldstein |first1=Robin |title=Can Legal Weed Win?: The Blunt Realities of Cannabis Economics |last2=Sumner |first2=Daniel |publisher=University of California Press |year=2023 |isbn=978-0-520-39737-8 |location=Berkeley, CA |pages=11 |language=en}}</ref> In 1922, the company introduced a [[malt]]ed [[milkshake]], which led to its establishing ice cream manufacturing plants.<ref name=":2">{{Cite book |last1=Ang |first1=Simon |title=Superior Customer Value in the New Economy: Concepts and Cases, Second Edition |last2=Oliva |first2=Alejandro |publisher=CRC Press |year=2004 |isbn=0-203-50149-7 |location=Boca Raton, FL |pages=348 |language=en}}</ref> A Walgreens employee named Ivar Coulson modified the basic malted milk recipe by adding scoops of vanilla ice cream.<ref>{{Cite book |last=Ried |first=Adam |title=Thoroughly Modern Milkshakes: 100 Thick and Creamy Shakes You Can Make At Home |publisher=W. W. Norton & Company |year=2012 |isbn=978-0-393-07890-9 |language=en}}</ref><ref>{{Cite book |last=Sawyers |first=June Skinner |title=Chicago Portraits: New Edition |publisher=Northwestern University Press |year=2012 |isbn=978-0-8101-2649-7 |location=Evanston, Illinois |pages=316 |language=en}}</ref> The milkshake was sold at $0.20 and Walgreens became the place to "hang out".<ref name=":2"/> The next year, Walgreens began opening stores away from residential areas. In the mid-1920s, there were 44 stores with annual sales of $1.2 million combined. Walgreens had also expanded by then into [[Minnesota]], [[Missouri]], and [[Wisconsin]]. By 1930, it had 397 stores with annual sales of $4 million. This expansion partly was attributed to selling the prescribed alcohol that Walgreen often stocked under the counter, as accounted in Daniel Okrent's ''Last Call: The Rise and Fall of Prohibition''.<ref>Daniel Okrent, Last Call: The Rise and Fall of Prohibition (197)</ref>

Although milkshakes and [[malted milk]] had been around for some time before, Walgreens has claimed credit for the popularization of the malted [[milkshake]] (or at least its version of it, invented by [[Ivar "Pop" Coulson]] in 1922).<ref>{{cite web |title=Our Past |url=http://www.walgreens.com/about/history/hist4.jsp |url-status=dead |archive-url=https://web.archive.org/web/20080501155205/http://www.walgreens.com/about/history/hist4.jsp |archive-date=May 1, 2008 |access-date=March 6, 2008 |publisher=Walgreens}}</ref>

The stock market crash in October 1929 and subsequent [[Great Depression]] did not greatly affect the company.{{Citation needed|date=May 2025}} By 1934, Walgreens was operating 601 stores in 30 states.{{Citation needed|date=May 2025}} After Walgreen died in 1939, his son [[Charles Rudolph Walgreen Jr.|Charles R. Walgreen Jr.]] took over the chain until his retirement. 

In 1946, Walgreens purchased [[Grupo Sanborns|Sanborns]], one of [[Mexico]]'s largest pharmacy and department store chains, from Frank Sanborn (Walgreens sold Sanborns to [[Grupo Carso]] in 1982).<ref>{{cite web|title=Sanborn Hermanos|url=http://www.sanborns.com.mx/sanborns/sanborns_hist.asp|url-status=dead|archive-url=https://web.archive.org/web/20080228175659/http://www.sanborns.com.mx/Sanborns/sanborns_hist.asp|archive-date=February 28, 2008|access-date=March 6, 2008|publisher=[[Grupo Sanborns|Sanborns]]|language=es}}</ref> 

Charles "Cork" R. Walgreen III took over after Walgreen Jr.'s retirement in the early 1950s and modernized the company by switching to [[barcode]] scanning. {{Citation needed|date=May 2025}}The company also created larger-sized Walgreens Superstores and purchased the [[Globe Discount City]] chain of [[big-box stores]] from United Mercantile, Inc. in the 1960s.{{Citation needed|date=May 2025}} The Walgreen family was not involved in senior management of the company for a short time after Walgreen III retired. In the 1980s Walgreens owned and operated a chain of casual family restaurants/[[pancake house]]s called [[Wag's]]. Walgreens sold most of these to [[Marriott Corp.]] in 1988,<ref>{{cite news|date=June 30, 1988|title=Marriott to Buy 91 Wag's Restaurants|work=[[The New York Times]]|url=https://query.nytimes.com/gst/fullpage.html?res=940DE5DD1431F933A05755C0A96E948260|access-date=March 6, 2008}}</ref> and by 1991 the chain was out of business. In 1986, Walgreens acquired the MediMart chain from Stop & Shop.<ref>{{cite news | url=http://findarticles.com/p/articles/mi_hb3007/is_15_25/ai_n29055026/ | work=Chain Drug Review | title=Walgreens buys Medi Mart | year=2003 | access-date=2011-10-11 | archive-date=2016-01-07 | archive-url=https://web.archive.org/web/20160107031855/http://findarticles.com/p/articles/mi_hb3007/is_15_25/ai_n29055026/ | url-status=dead }}</ref> Kevin P. Walgreen was made a vice-president in 1995 and promoted to senior vice president of store operations in 2006.<ref>{{cite web |url= http://news.walgreens.com/article_display.cfm?article_id=1108 |title= Kevin P. Walgreen |publisher= Walgreens |access-date= March 6, 2008 |url-status= dead |archive-url= https://web.archive.org/web/20080406121055/http://news.walgreens.com/article_display.cfm?article_id=1108 |archive-date= April 6, 2008 }}</ref>[[File:A Walgreens pharmacy in Murphy, North Carolina.jpg|thumb|A Walgreens pharmacy in [[Murphy, North Carolina]] in 2023]]
[[File:The_interior_of_a_Walgreens_pharmacy_in_Murphy,_North_Carolina,_United_States_03.jpg|thumb|The prescription counter in the pharmacy department of a typical Walgreens]]

===21st century===
==== 2000s ====
On July 12, 2006, [[David Bernauer]] stepped down as CEO of Walgreens and was replaced by company president [[Jeff Rein]], who was later named [[chief executive officer]] and [[Chair (official)|chairman of the board]]. That year, Walgreens acquired the [[Happy Harry's]] chain in [[Delaware]], [[Pennsylvania]], [[Maryland]], and [[New Jersey]].<ref>[https://www.baltimoresun.com/2006/06/06/walgreen-to-acquire-happy-harrys-chain/ Walgreen to acquire Happy Harry's chain - Baltimore Sun] . Articles.baltimoresun.com (June 6, 2006). Retrieved on September 5, 2013.</ref> In 2007, Walgreens acquired [[Hal Rosenbluth|Hal Rosenbluth's]] Take Care Health Systems, a chain of quick-care clinics, for an undisclosed amount.<ref>{{Cite web |date=2007-05-28 |title=Walgreen to buy clinic operator Take Care Health|url=https://www.reuters.com/article/idUSWNAS1741/ |access-date=2024-05-16 |website=Reuters |language=en}}</ref> On October 10, 2008, Rein was replaced by Alan G. McNally as chairman and acting CEO.<ref name="reinretires">{{cite news |last=Andrejczak |first=Matt |date=October 10, 2008 |title=Walgreen CEO quits after two years at helm |url=https://www.marketwatch.com/story/walgreen-ceo-exits-after-two-years-at-helm |access-date=October 16, 2020 |newspaper=Marketwatch}}</ref> On January 26, 2009, [[Gregory Wasson]] was named CEO effective February 1, 2009.<ref>{{cite news|last=Wohl|first=Jessica|date=January 26, 2009|title=Walgreen picks insider Wasson to be next CEO|work=Reuters|url=https://www.reuters.com/article/ousiv/idUSTRE50P0RT20090126|access-date=January 26, 2009}}</ref>

==== 2010s ====
In 2010, Walgreens acquired New York City-area chain [[Duane Reade]] for $1.075 billion, including debt, and continued to use the Duane Reade name on some stores in the New York City metropolitan area.<ref name="Walgreens">[http://www.businesswire.com/news/home/20100217005827/en/Walgreens-Acquire-York-based-Drugstore-Chain-Duane-Reade "Walgreens to Acquire New York-based Drugstore Chain Duane Reade"], February 17, 2010, Retrieved June 27, 2013,</ref> In March 2011, Walgreens acquired [[Drugstore.com]] for $409 million.<ref>{{cite web|first=Kevin|last=Woodward|title=Merchandising and Design - Beauty.com: A refined look - Internet Retailer|url=http://www.internetretailer.com/2012/11/27/beautycom-refined-look|access-date=June 15, 2015}}</ref> On June 19, 2012, Walgreens paid $6.7 billion for a 45% interest in [[Alliance Boots]].<ref>{{cite news|date=June 19, 2012|title=US retailer Walgreen buys 45% stake in Alliance Boots|work=BBC News|url=https://www.bbc.co.uk/news/business-18504340}}</ref> That year, Walgreens acquired [[Mid-South (region)|Mid-South]] drugstore chain operating under the [[USA Drug]], Super D Drug, May's Drug, Med-X, and Drug Warehouse banners.<ref>{{cite web|date=July 5, 2012|title=Walgreens to acquire mid-South drug store chain|url=http://drugstorenews.com/article/walgreens-acquire-mid-south-drug-store-chain|access-date=July 5, 2012|publisher=Drug Store News|archive-date=July 8, 2012|archive-url=https://web.archive.org/web/20120708172604/http://drugstorenews.com/article/walgreens-acquire-mid-south-drug-store-chain|url-status=dead}}</ref> In November 2010, Walgreens filed a [[trademark infringement]] [[lawsuit]] against the [[Wegmans]] supermarket chain, claiming the "W" in the Wegman's logo was too similar to Walgreens's.<ref>{{cite news |date=November 6, 2010 |title=Walgreens sues Wegmans in logo dispute |url=http://online.wsj.com/article/AP0d26cbf8d065497781f4dc5f4336a3b3.html |url-status=dead |archive-url=https://web.archive.org/web/20101108222151/http://online.wsj.com/article/AP0d26cbf8d065497781f4dc5f4336a3b3.html |archive-date=November 8, 2010 |access-date=November 17, 2010 |newspaper=The Wall Street Journal}}</ref> The suit was settled in April 2011, with Wegmans agreeing to discontinue use of its "W" logo by June 2012, although the supermarket retained the right to use the "Wegmans" name in script.<ref name="auipb">{{cite web |last=Patterson |first=Richard |date=April 27, 2011 |title=Wegmans Settles with Walgreens over War of W's |url=http://www.ipbrief.net/2011/04/27/wegmans-settles-with-walgreens-over-war-of-w%E2%80%99s/ |url-status=dead |archive-url=https://web.archive.org/web/20110607191544/http://www.ipbrief.net/2011/04/27/wegmans-settles-with-walgreens-over-war-of-w%E2%80%99s/ |archive-date=June 7, 2011 |access-date=June 9, 2011 |work=Intellectual Property Brief |publisher=American University}}</ref><ref name="walgreenpr">{{cite web |title=Press Release: Wegmans Releases Statement on Lawsuit Resolution |url=http://www.wegmans.com/webapp/wcs/stores/servlet/PressReleaseDetailView?langId=-1&storeId=10052&catalogId=10002&productId=720935 |url-status=dead |archive-url=https://web.archive.org/web/20110505055539/http://www.wegmans.com/webapp/wcs/stores/servlet/PressReleaseDetailView?productId=720935&storeId=10052&catalogId=10002&langId=-1 |archive-date=May 5, 2011 |access-date=June 9, 2011}}</ref> Since 2010, Walgreens has had a technology office in [[Chicago]], serving as its digital hub.<ref>{{Cite news |last=Channick |first=Robert |title=Walgreens expanding tech office in Chicago, doubling downtown employees to 600 |url=http://www.chicagotribune.com/business/ct-biz-walgreens-tech-center-chicago-20171017-story.html |access-date=April 12, 2018 |work=chicagotribune.com}}</ref>

In 2011 Walgreens announced it would end its relationship with Express Scripts,<ref>{{cite news|title=Walgreens ramps up for end of Express Scripts deal|work=Chicago Tribune|url=http://www.chicagotribune.com/business/breaking/chi-walgreen-ramps-up-for-end-of-express-scripts-deal-20111230,0,7670406.story|url-status=dead|archive-url=https://web.archive.org/web/20111231181555/http://www.chicagotribune.com/business/breaking/chi-walgreen-ramps-up-for-end-of-express-scripts-deal-20111230%2C0%2C7670406.story|archive-date=December 31, 2011}}</ref> a [[Pharmacy benefit management|prescription benefits manager]]. A coalition of minority groups, led by [[Al Sharpton]]'s National Action Network,<ref>{{cite news|title=Document Drop: Al Sharpton V. Walgreens|work=Daily News|location=New York|url=http://www.nydailynews.com/blogs/dailypolitics/2011/12/document-drop-al-sharpton-v-walgreens#comment-911716|access-date=2012-01-14|archive-date=2014-01-23|archive-url=https://web.archive.org/web/20140123050024/http://www.nydailynews.com/blogs/dailypolitics/2011/12/document-drop-al-sharpton-v-walgreens#comment-911716|url-status=dead}}</ref> sent letters urging CEO Gregory Wasson to reconsider. Groups sending letters were National Hispanic Christian Leadership Conference,<ref>{{cite news|title=Largest Latino Religious Group Joins Chorus Critical Changed|url=http://www.bizjournals.com/prnewswire/press_releases/2011/12/28/DC27937}}</ref> the Congress of Racial Equality,<ref>[http://www.prnewswire.com/news-releases/congress-of-racial-equality-core-warns-walgreens-decision-to-drop-express-scripts-will-hurt-poor-135695368.html Congress of Racial Equality (CORE) Warns of Walgreens Plans to Abandon Lower-income & Minority Communities Would Consider Urging Boycott if Course not Walgreens Decision to Drop Express Scripts... - NEW YORK, Dec. 15, 2011 /PRNewswire-USNewswire/]. Prnewswire.com (December 15, 2011). Retrieved on September 5, 2013.</ref> Hispanic Leadership Fund<ref>[https://news.yahoo.com/hispanic-leadership-fund-walgreens-dispute-threatens-health-care-150707718.html]{{dead link|date=September 2013}}</ref> and others. In 2012, Walgreens announced that it would continue to participate in Express Scripts.<ref>{{Cite web |last=Isidore |first=Chris |title=Walgreen, Express Scripts settle prescription spat |url=https://money.cnn.com/2012/07/19/investing/walgreens-express-scripts/index.htm |access-date=2025-05-11 |website=CNNMoney}}</ref> Many news outlets described the overall process as a conflict, with terms like "spat,"<ref>{{Cite web |last=Krauskopf |first=Lewis |last2=Wohl |first2=Jessica |date=19 July 2012 |title=Express Scripts, Walgreens settle pharmacy spat |url=https://www.reuters.com/article/business/healthcare-pharmaceuticals/express-scripts-walgreen-settle-pharmacy-spat-idUSBRE86I0MX/ |website=Reuters}}</ref> "battle,"<ref>{{Cite web |last=Fein |first=Adam J. |last2=Ph.D. |title=Walgreens is Losing Its Battle with Express Scripts |url=https://www.drugchannels.net/2012/05/walgreens-is-losing-its-battle-with.html |access-date=2025-05-12}}</ref> "war,"<ref>{{Cite web |title=Walgreen, Express Scripts End War {{!}} CFO.com |url=https://www.cfo.com/news/walgreen-express-scripts-end-war/667082/ |access-date=2025-05-12 |website=www.cfo.com |language=en-US}}</ref> and "rift."<ref>{{Cite web |date=2012-07-24 |title=Walgreens and Express Scripts Mend Rift |url=https://www.pharmacytimes.com/view/walgreens-and-express-scripts-mend-rift |access-date=2025-05-12 |website=Pharmacy Times |language=en}}</ref> 

[[File:Walgreens, Neptune Beach.jpg|thumb|275x275px|Walgreens location in [[Neptune Beach, Florida]] in 2017]]

In July 2013, Walgreens had attempted to acquire Toronto-based [[Shoppers Drug Mart]], which would have marked Walgreen's first expansion into Canada and outside the U.S., but ultimately acquired by [[Loblaw Companies]].<ref>{{Cite web |date=2013-07-17 |title=Walgreens Could Have Bought Shoppers Drug Mart. Could Walgreen’s Still Come to Canada? |url=https://retail-insider.com/retail-insider/2013/07/walgreens-could-have-bought-shoppers/ |access-date=2024-12-30 |website=Retail Insider |language=en-US}}</ref> Later on September 10, 2013, Walgreens announced it had acquired [[Kerr Drug]].<ref>{{cite news|date=September 10, 2013|title=Walgreens furthers reach into North Carolina with acquisition of Kerr Drug|work=Drug Store News|url=http://www.drugstorenews.com/article/walgreens-furthers-reach-north-carolina-acquisition-kerr-drug|access-date=September 11, 2013|archive-date=September 13, 2013|archive-url=https://web.archive.org/web/20130913012840/http://www.drugstorenews.com/article/walgreens-furthers-reach-north-carolina-acquisition-kerr-drug|url-status=dead}}</ref> 

In the summer of 2014, a corporate relocation to Switzerland was considered as part of a merger with Alliance Boots, a European drugstore chain.<ref>{{cite web |last=Sorkin |first=Andrew Ross |date=July 2014 |title=At Walgreen, Renouncing Corporate Citizenship |url=https://dealbook.nytimes.com/2014/06/30/renouncing-corporate-citizenship}}</ref> This drew controversy as many consumers felt that it was an attempt at [[tax inversion]]. In August 2014, Walgreens purchased the remaining 55% of [[Alliance Boots]]. The combined company became known as the [[Walgreens Boots Alliance]] and was headquartered in Chicago.<ref>{{cite news|date=August 6, 2014|title=Walgreens buys up rest of Alliance Boots: The Guardian|url=https://www.theguardian.com/business/2014/aug/06/walgreens-buys-alliance-boots-9bn-pounds}}</ref><ref name="WalgreensBoots">{{cite news|title=Post Alliance Boots buyout Walgreens to stay on in US|publisher=Chicago News.Net|url=http://www.chicagonews.net/index.php/sid/224504233|access-date=August 7, 2014}}</ref> In December of that year, Walgreens purchased the Almus Pharmaceutical generic brand.<ref>{{Cite web|title=Almus/Walgreens purchase $3.85 billion dollars|url=https://www.sec.gov/Archives/edgar/data/1618921/000114036116083198/ex21.htm}}</ref> Also that year, Walgreens acquired [[Farmacias Benavides]].<ref>{{Cite web|last=Aznarez|first=Cesar|date=2019-06-11|title=La receta de Walgreens Boots Alliance para que Farmacias Benavides entre a su plan global • Forbes México|url=https://www.forbes.com.mx/estrategias-globales-de-walgrestrategias-globales-de-walgreens-boots-allianceeens-boots-alliance/|access-date=2020-04-23|website=Forbes México|language=es-MX}}</ref> On July 28, 2016, Walgreens announced it would shut down [[Drugstore.com]], as well as Beauty.com, to focus on its own Walgreens.com website.<ref>Northwest Innovation, " [http://www.nwinnovation.com/drugstore_com_beauty_com_to_be_shut_down_by_walgreens/s-0066446.html Drugstore.com, Beauty.com To Be Shut Down By Walgreens]." July 28, 2016.</ref> On September 19, 2017, the [[Federal Trade Commission]] (FTC) approved Walgreens' fourth attempt to purchase Rite Aid, with 1,932 stores, for $4.38 billion.<ref>{{cite news |last1=Langreth |first1=Robert |last2=McLaughlin |first2=David |name-list-style=and |date=September 19, 2017 |title=Walgreens Wins U.S. Approval for Rite Aid Deal on Fourth Try |url=https://www.bloomberg.com/news/articles/2017-09-19/walgreens-pact-to-buy-fewer-rite-aid-stores-wins-u-s-approval |access-date=September 19, 2017 |work=[[Bloomberg News]] |publisher=[[Bloomberg L.P.]] |location=[[New York City]]}}</ref>

==== 2020s ====
In February 2020, Walgreens announced the appointment of president of operations Richard Ashworth as company president, but he left within the year.<ref>{{Cite web|title=Walgreens Boots Alliance Appoints Richard Ashworth President of Walgreens|url=https://finance.yahoo.com/news/walgreens-boots-alliance-appoints-richard-151500275.html|access-date=March 12, 2020|website=finance.yahoo.com|language=en-US}}</ref><ref>{{Cite web|last=Klicki|first=Richard|date=February 6, 2020|title=Walgreens names new president|url=https://www.dailyherald.com/business/20200206/walgreens-names-new-president|access-date=March 12, 2020|website=Daily Herald|language=en-US}}</ref>{{additional citation needed|date=February 2022|note=departure citation needed}}

Walgreens announced it was closing 150 locations in the U.S. (plus 300 in the UK) in June 2023.<ref>{{Cite web |last=Maruf |first=Ramishah |date=2023-06-30 |title=Walgreens is closing 450 locations {{!}} CNN Business |url=https://www.cnn.com/2023/06/30/investing/walgreens-150-store-closings/index.html |access-date=2023-06-30 |website=CNN |language=en}}</ref>

[[File:Closed Walgreens.jpg|thumb|A Walgreens store that closed in early 2025, one of many branches to close around that time]]
On June 27, 2024, Walgreens said it would close a "significant portion" of its 8,600 U.S. locations within three years as it struggled to keep up with a fast-changing retail pharmacy industry. The company said 25 percent, or around 2,150 of its stores were underperforming and would be considered for closure. It did not identify any closure locations.<ref>{{cite news |title=Walgreens to close 'underperforming' U.S. stores |url=https://www.upi.com/Top_News/US/2024/06/27/walgreens-closes-stores-underperforming/7251719507787 |work=[[United Press International]] |date=June 27, 2024 |access-date=June 30, 2024}}</ref> 

In December 2024, Walgreens Boots Alliance was in talks to sell itself to private equity firm [[Sycamore Partners]].<ref>{{Cite web |last=Lombardo |first=Cara |last2=Thomas |first2=Lauren |last3=Mathews |first3=Anna Wilde |name-list-style=and |date=December 11, 2024 |title=Walgreens Is in Talks to Sell Itself to Private-Equity Firm Sycamore Partners |url=https://www.wsj.com/business/deals/walgreens-sycamore-partners-private-equity-deal-5d14c920 |access-date=2025-01-06 |website=WSJ |language=en-US}}</ref> In March 2025, Walgreens announced it had finalized a deal with [[Sycamore Partners]] to go private for an equity value of $10 billion.<ref>{{Cite web |last=Constantino |first=Annika Kim |date=2025-03-06 |title=Walgreens to go private in roughly $10 billion deal with Sycamore Partners |url=https://www.cnbc.com/2025/03/06/walgreens-to-go-private-in-10-billion-deal-with-sycamore-partners.html |access-date=2025-03-21 |website=CNBC |language=en}}</ref>