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Deal Detail

Walgreens Boots Alliance to Sycamore Partners

General RetailDrug & Health/Aug 2025
EV / LTM EBITDA
6.1x
EV / LTM Sales
-
Enterprise Value
$23.6B
Primary Source
Centerview

Comparable Transactions

General Retail transactions announced in the five years to August 2025. 19 with a disclosed multiple.

DateTargetAcquirorEnterprise ValueEV/SalesEV/EBITDAType
Jul 2025Space NKULTA$407M1.7x-Strategic
May 2025Foot LockerDICK'S Sporting Goods$2.3B-6.4xStrategic
Mar 2025The Reject ShopDollarama International$119M-8.9xStrategic
Dec 2024Nordstrom, Inc.Nordstrom Family & El Puerto De Liverpool$6.3B-5.5xStrategic
Aug 2024Accent Group Limited (minority stake)Frasers Group$739M-3.7xStrategic
Apr 2024Hibbett, Inc.JD Sports Fashion PLC$1.1B-6.2xStrategic
Dec 2023PETstock Pty LtdWoolworths Group Limited$1.1B-10.8xStrategic
Jul 2023Best & LessBB Retail Capital$152M-4.1xFinancial
May 2023Franchise Group, Inc.Management-led buyout (B. Riley Financial)$2.6B-8.3xFinancial
May 2023Mattress Firm GroupTempur Sealy International$4.0B-9.3xStrategic
Oct 2022Cheap THRILLS Cycles Pty Limited (THRILLS)Universal Store Holdings Limited$32M-6.6xStrategic
Apr 2022BrandsMart USAThe Aaron's Company--5.0xStrategic
Nov 2021WS Badcock CorporationFranchise Group, Inc.--4.2xStrategic
May 2021At Home GroupHellman & Friedman--7.9xStrategic
May 2021DreamsTempur Sealy International--6.3xStrategic
Mar 2021The Michaels Companies Inc.Apollo Global Management$5.0B-6.9xFinancial
Feb 2021DTLR Villa LLCJD Sports Fashion PLC$495M-10.9xStrategic
Jan 2021Pet Supplies PlusFranchise Group, Inc.--8.8xStrategic
Dec 2020Sportsman's WarehouseGreat Outdoors Group, LLC--6.0xStrategic
Mean-7.0x
Median-6.5x

All Observations

Source-specific multiples and notes for this transaction.

CompPrimary?Source TypeSourceSource AdvisorSource YearEV (USD)EV/SalesEV/EBITDAEV/Fwd EBITDANoteCitation
Primaryfairness opinionWBA FOCenterview2025$23.6B-6.1x-Manual; initial consideration onlyOpen