Walgreens Boots Alliance Bags Over 60 Shopko Stores After Bankruptcy Court Approves Bids

Executive Summary

Wisconsin-based retailer Shopko recently announced it would exit the pharmacy business and sell off its assets as part of a financial restructuring. These are the highlights of the asset sale and the retailers acquiring the assets:

• Walgreens Boots Alliance (WBA), CVS Health (CVS) and Albertsons led a group of over 20 drugstore and retail chains that bid for the prescriptions and other pharmacy assets belonging to bankrupt retailer Shopko.
• WBA secured 63 pharmacies, the highest number among all the companies that bid, followed by CVS (which acquired 13) and Albertsons (which acquired seven).
• Shopko auctioned 120 pharmacy assets or stores in total.