Walgreens Acquires Drugstore.com For $409 Million

Walgreen Company (NYSE:WAG) has acquired Drugstore.com in a deal that is worth $409 million. Walgreen will also get ownership of Beauty.com and SkinStore.com through the acquisition. The Walgreens retail store has about 7,689 drug stores across the U.S. and saw about $67 billion in 2010 revenues. Drugstore.com was founded in 1998 and earned $456 million in 2010 revenues. Walgreens said that Drugstore.com will maintain their Bellevue, Washington corporate office after the merger is complete. [TechCrunch]

This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at
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