US pharmacy chain Walgreens has completed its takeover of UK high multiple high-street pharmacist Alliance Boots.

Officially announced on 31 December 2014, the merger was finalised after Walgreen opted to purchase a 55% stake in the company, taking full control over the UK multiple.

The US pharmacy purchased a 45% stake in Boots Alliance in 2012.

Now renamed Walgreens Boots Alliance (WBA), the company consists of Walgreens, Boots and Alliance Healthcare, a pharmaceutical wholesaler and distributor.

Walgreen Boots Alliance has a pharmaceutical network across the US, Europe and key markets in Asia and Latin America.

Acting CEO of WBA, Stefano Pessina, said: “Becoming global gives us the ability to generate significant and sustainable benefits for local markets and all stakeholders, from consumers and patients, to pharmacists, suppliers, business partners and our employees.” 

Combined, WBA now has more than 12,000 stores in 25 countries, employing almost 400,000 people.