Walgreens Boots Alliance acquires remaining stake in German joint venture
Walgreens Boots Alliance has agreed with McKesson Corporation that it will acquire the remaining 30% share of their GEHE Pharma Handel and Alliance Healthcare Deutschland joint venture.
On completion of the transaction, WBA will become the 100% owner of the combined GEHE and Alliance Healthcare businesses in Germany.
GEHE and AHD combined their operations in the German pharmaceutical market in November 2020. At the time, WBA became the 70% owner of the joint venture with McKesson holding the remaining 30%.
Ornella Barra, chief operating officer, international at Walgreens Boots Alliance, said: “We are very pleased to have reached agreement with McKesson to take full control of our joint German pharmaceutical wholesaling operations. This new, exciting step enables Walgreens Boots Alliance to further strengthen its position as a leading pharmaceutical wholesaler in Germany.”
The news follows McKesson’s announcement earlier this year regarding the sale of certain European businesses and its intention to exit the European region fully.