Walgreens acquires remaining stake in German GEHE-Alliance Healthcare joint venture From McKesson

November 30, 2021  –  Walgreens Boots Alliance and McKesson Corporation have reached an agreement for Walgreens to acquire the remaining 30% share of their GEHE Pharma Handel (GEHE) and Alliance Healthcare Deutschland (AHD) joint venture.

Following this transaction, Walgreens will become the 100% owner of the combined GEHE and Alliance Healthcare businesses in Germany.

GEHE and AHD successfully combined their operations in the German pharmaceutical market on November 1, 2020. In that transaction Walgreens became the 70% owner of the joint venture with McKesson holding the remaining 30%.

“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” said Ornella Barra, COO, International, Walgreens Boots Alliance. “We thank McKesson for their partnership in forming and developing our joint venture and look forward to further improving our innovative services to manufacturers and pharmacists in Germany”.

This announcement follows McKesson’s announcement in July 2021 of the sale of certain European businesses and its intention to exit the European region fully.

The transaction is subject to standard regulatory clearance by the relevant local authorities. Financial terms of the transaction have not been disclosed.

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