Hengeler Mueller advises Sycamore Partners on $23.7 billion acquisition of Walgreens Boots Alliance

Hengeler Mueller is advising Sycamore Partners on the German aspects of its up to $23.7 billion acquisition of Walgreens Boots Alliance (WBA), in particular in relation to its significant German business including Alliance Healthcare Deutschland. The transaction is expected to close in the fourth quarter of 2025, subject to customary closing conditions, including the approval by the WBA shareholders.

Sycamore Partners is a private equity firm based in New York, specializing in consumer, distribution and retail-related investments.

Walgreens Boots Alliance is an integrated healthcare, pharmacy and retail leader serving millions of customers and patients every day.

Hengeler Mueller has advised Sycamore Partners together with US-based law firm Davis Polk.

Hengeler Mueller team for Sycamore Partners

M&A: Annika Clauss, Frank Burmeister (both partner), Nicholas Kubesch (counsel), Niklas Lewicki, Paul Vogel (both associate, all Frankfurt),

Healthcare/Regulatory: Susanne Koch (counsel), Tanja Peschen (associate, both Düsseldorf),

IP/IT: Matthias Rothkopf (partner), Kira Fritsche (senior associate), Johannes Jäkle (associate, all Düsseldorf),

Employment: Christian Hoefs (partner), Musa Müjdeci (senior associate, both Frankfurt),

FDI: Vera Jungkind (partner), Jan Schülting (senior associate, both Düsseldorf),

Antitrust: Markus Röhrig (partner), Christian Dankerl (counsel, both Brussels).