Nottingham-based Boots says no job losses are expected ahead of the full takeover of the company by American drug-store giants Walgreens.
Walgreens, which also trades as Duane Reade, is set to spend around £5 billion on the outstanding 55% stake in Alliance Boots.
Given the complementary geographic footprints of Walgreens and Alliance Boots, job reductions are not expected at either company as a result of the merger.
Nottingham is at the heart of the Boots heritage (it has been the home of Boots for over 160 years) and it will continue to be a very important hub in the future within the global enterprise.
Nottingham is a key site for our activities in pharmacy, retailing, R&D, product manufacturing and pharmaceutical wholesale.
We firmly believe that our employees will benefit from being part of an even stronger and much larger organisation, and that this merger is a vital step in achieving our vision of becoming a global healthcare leader and Boots, our principal retail brand, will play a pivotal role.
Reports suggest the Nottingham-based high street chemist Boots could be subject to a full takeover by American drug-store giants Walgreens.
According to Sky news, Walgreens plan to acquire the remaining 55 per cent that it doesn't already own in a deal costing more than five billion pounds.
They are expected to make an announcement tomorrow, with speculation they'll keep their headquarters in America.
Boots, which was founded by Jesse Boot in the 1870's, sold almost half its shares to Walgreen in a multi-billion pound cash and shares deal back in 2012, making the firm part of the world's biggest pharmacy chain.
Boots have confirmed that 200 jobs will go at their Nottingham BCM factory over the next two years.
By modernising and improving the efficiency of our Nottingham factory, we strengthen its position for the future and make it more suited to support the increasing global footprint of our product brands. It is an important step in our continued efforts to keep contract manufacturing in the UK, despite the ongoing challenges that the industry faces.”
– Alex Gourlay, Chief Executive, Health & Beauty Division, Alliance Boots