Walgreens To Buy Drugstore.com
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DEERFIELD, Ill. (CBS) – Deerfield-based Walgreens is sharpening its focus on prescription drugs.
Walgreens announced Thursday that it will by online retailer Drugstore.com for $429 million. The move will give Walgreens access to 3 million online customers.
The deal pays stockholders $3.80 per share in cash, according to MarketWatch.com
Drugstore.com also runs Beauty.com, SkinStore.com and VisionDirect.com, MarketWatch said.
This is the second major purchase by Walgreens in recent years. Last year, Walgreens purchased New York City drugstore chain Duane Reade in a deal valued at $1.08 billion.
MarketWatch says that deal has worked out well, with revamping at old Duane Reade stores and a better shopping experience.
The Walgreens deal comes shortly after Amazon.com bought Quidisi Inc., which operates Diapers.com and Soap.com, MarketWatch reported.