US Walgreens eyes growth through acquisitions

New York

STEFANO Pessina, named permanent chief executive officer of Walgreens Boots Alliance Inc on Thursday, wasted no time in signalling that he wants the largest US drugstore chain to grow through acquisitions.

"I believe that the American market will go through a substantial wave of consolidation, horizontally and vertically," Mr Pessina said on a conference call to discuss the company's latest quarterly earnings. While he wouldn't identify potential targets, he said that Walgreens wants "to be part of this at the right time with the right partner".