Walgreens Boots Alliance has set out a three-point plan to grow the company in 2016. The initiatives were approved by shareholders at the company’s Annual General Meeting in Manhattan last week.
First on the agenda is the acquisition of Rite Aid. Despite a question mark over whether the deal will receive regulatory approval, the company remains confident that it will complete in the second half of 2016. “The acquisition will go a long way to help fill the gaps in our geographical coverage in the US in one step,” said Executive Vice Chairman and CEO Stefano Pessina. “The addition of Rite Aid to our network offers the potential for significant cost savings and purchasing efficiencies in addition to opportunities in terms of important market penetration for our owned and exclusive portfolio.”
Second, a partnership with Valeant Pharmaceuticals signed at the close of 2015 that will see Valeant offer its branded dermatology and ophthalmology products at a reduced price, will deliver increased value to both Walgreens Boots Alliance and the end-consumer.
And last, new initiative Beauty 2000, will see Walgreens transform its 2,000 beauty halls with the arrival of Boots’ own brands, including No7 and Soap & Glory. “Really our mission here is to make Walgreens a beauty destination for the American consumer,” commented Executive Vice President and President Global Brands Ken Murphy. “We have transformed the entire beauty department of the store to really change the experience of the consumer within Walgreens, and that’s under the Boots banner within the store.”