Walgreens to Buy Duane Reade, Retain Name

Drug store giant Walgreen Co. said it has agreed to buy Duane Reade, the iconic New York City banner, for $1.075 billion, including assumption of debt.

DEERFIELD, Ill. — Drug store giant Walgreen Co. said Wednesday it has agreed to buy Duane Reade, the iconic New York City banner, for $1.075 billion, including assumption of debt.

Walgreen said it plans to retain the name on the stores and continue the banner's current remodeling efforts, and it hopes to bolster efficiencies and strengthen the chain's pharmacy and health and wellness operations.

Duane Reade is led by Chairman and Chief Executive Officer Jon Lederer, the

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