Walgreens and Duane Reade: Together At Last

Photo via digiart2001

Would you rather have a Walgreens or a Duane Reade on every block? Word is that the former is buying the latter for around $1.075 billion. While there aren't too many details yet (a press conference is being held today), the Duane Reade name will remain in place—so when the switch officially happens around August, you won't feel a thing.

According to Marketwatch, the acquisition gives Walgreens a leadership position, but Duane Reade will continue its brand identity "while accelerating Walgreens Customer Centric Retailing initiative in urban markets." There are 257 Duane Reades in NYC, and there are 70 Walgreens; a decision will be made on how to "harmonize" the brands over time.

The new corporate overlord, Walgreens President and CEO Greg Wasson, says, "Duane Reade is a compelling strategic acquisition that will immediately provide Walgreens with a leading position in the largest drugstore market in the U.S." It just all sounds so, evil.

Contact the author of this article or email tips@gothamist.com with further questions, comments or tips.

By Jen Carlson in News on February 17, 2010 8:54 AM

Comments [rss]

Dynastiis E King

i pick up chicks at the DR Look Boutique

joshuadog

Merger expected to create world's most disinterested and unhelpful workforce.

Spirit of 76

I miss the original location between Duane and Reade Streets. Then again, I miss a lot of what lower Manhattan used to be like, including Job Lot, Ruby's Book Sale, Ralph's Discount City and Dave's Luncheonette.

Radtard

Bring back Love!

Brado

But will they continue to sell beer? The Walgreens in NYC don't sell beer and the DR beer sales are pretty damn good.

NannyState

It took me three months to find a crooked pharmacist at Duane Reade. They better not take him away.

theevilone

I just hope they keep that new DR rewards thing. It's way better than the old one.

hotstepper

people are much too emotionally attached to their drugstores in this town.

1stephanie

Walgreen's is way cheaper than Duane Reade! I'm hoping the Chase ATM deal stays, and ideally crosses over into Walgreen's stores, too. I have a Walgreen's in my hood but no DR, and the nearest Chase outpost is a 15-minute walk.

silver

20% price hike across the board effect immediately. Someone has to pay for the buyout.

NannyState

So now I have to trip over empty boxes of Wal-Phed on my way into DR too?

books

Big mergers like this mean less choice for customers. mergers are not good for the public.

nicemarmot

Oh yeah. Clearly now DR will stock even more expired medicine and food, and their employees will be even surlier and more useless!

squatch

the big questions is this:

will walgreens still stock sushi???

http://blogs.villagevoice.com/forkintheroad/archives/2010/02/duane_reades_su.php

nicemarmot

When I lived in LA the Walgreens there sold sushi. Our friends from the east coast never failed to be amazed.

Radtard

Don't they also sell Liquor! or was that RiteAid

bpcsouth

So will this merger mean all stores get the customer service of Duane Reade or the customer service of Walgreens or will be combination of both result in even more employee antipathy and longer lines?