Walgreens HQ will remain in U.S., despite $16 billion purchase of UK company
Walgreens will not be moving overseas and will keep its headquarters in north suburban Deerfield.
The company announced Wednesday morning that it will keep its headquarters in Deerfield after buying the European company “Alliance Boots.”
The drugstore giant is buying the company, for $16 billion and was considering moving its headquarters to either England or Switzerland. The moved would have saved Walgreens hundreds of millions of dollars in taxes.
During a call with shareholders Wednesday, Walgreens president and CEO said the company explored all options but in the end, several factors lead to their decision to stay in the U.S.
Chicago Mayor Rahm Emanuel issued a statement following the announcement:
“I applaud and commend Greg Wasson and Walgreens for reaffirming their commitment to the United States, Illinois, and Chicago. Walgreens’ presence across Chicago’s neighborhoods make them an important member of the Chicagoland family and a critical player in our city’s history and our future. Their decision today speaks volumes about their determination to be a strong business, good corporate citizen, and vital community neighbors.”