Walgreens’ Private Equity Owner Plans to Double Chain’s Profits

The private equity firm that acquired Walgreens as part of a $10 billion deal plans to double the pharmacy chain’s profitability over the next several years, according to people familiar with the matter.

Sycamore Partners, a New York-based buyout firm, wants to grow the retailer’s earnings before interest, taxes, depreciation, and amortization to $4 billion, said the people, who asked not to be identified discussing private matters. That’s up from about $2 billion that the US drugstore chain earned in 2024.

The target was presented to shareholders and some employees at the end of last year, the people said. ...