International law firm McDermott Will & Schulte advised Sycamore Partners, a leading New York-based private equity firm, as UK healthcare regulatory counsel on its acquisition of Walgreens Boots Alliance, Inc. The total transaction is valued at up to $23.7 billion.

Sycamore Partners specializes in consumer, distribution and retail-related investments and partners with management teams to improve the operating profitability and strategic value of their business. With approximately $11 billion in aggregate committed capital raised since its inception in 2011, Sycamore Partners’ investors include leading endowments, financial institutions, family offices, pension plans and sovereign wealth funds.

Prior to Sycamore Partners’ acquisition, Walgreens Boots Alliance, Inc. was headquartered in Illinois and was the owner of Boots, the largest pharmacy chain in the UK, with a heritage spanning over 175 years and a network of more than 1,800 stores in the UK, offering pharmacy, health and retail services, including NHS services. Following the transaction, Boots will operate as a part of The Boots Group, a standalone, private company, headquartered in the UK, separate from Walgreens Boots Alliance, Inc.

The McDermott team was led by Sharon Lamb, Head of the UK Healthcare Practice Group, and Senior Associate Bella North, with support from Michaela Novakova and Emelia Clode.

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