What did Sycamore Partners pay for Walgreens Boots Alliance?

Sycamore Partners acquired Walgreens Boots Alliance for $23.70B in 2025 (52.4x EBITDA), equivalent to 0.20x revenue. Target revenue was approximately $147700.0M. Target EBITDA was approximately $452.4M.

What does Walgreens Boots Alliance do?

Walgreens Boots Alliance is a pharmacy business.

What multiple did Sycamore Partners pay for Walgreens Boots Alliance?

52.4x EBITDA and 0.20x revenue, based on disclosed deal value of $23.70B and disclosed financials.

M&A TRANSACTION · 2025

Walgreens Boots Alliance acquired by Sycamore Partners

$23.70B· 52.4x EBITDA· 0.20x revenue

Target

Walgreens Boots Alliance

Acquirer

Sycamore Partners

Disclosed financials at time of acquisition

Revenue

$147700.0M

EBITDA

$452.4M

Deal Value

$23.70B

EV/EBITDA

52.4x

Context

This $23.70B acquisition of Walgreens Boots Alliance by Sycamore Partners sits in the pharmacy sub-vertical. The 52.4x EBITDA multiple paid in 2025 can be compared against the population median for pharmacy transactions of similar size on our Pharmacy valuation hub.

Source

Data sourced from SEC Fairness Opinion — primary source. All figures reflect disclosed values at the time of the acquisition; no estimated or imputed data. Methodology

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Citation: ExitValue.ai. (2025). Walgreens Boots Alliance acquired by Sycamore Partners. https://exitvalue.ai/deals/walgreens-boots-alliance-acquired-by-sycamore-partners-fairness-opi