Sycamore Partners completed its $10 billion (£7.4 billion) acquisition of Walgreens Boots Alliance in partnership with Stefano Pessina and his family, who have reinvested 100% of their interests in WBA, demonstrating their ongoing support and confidence in the company’s future. Retail veteran Mike Motz was named Walgreens' new Chief Executive Officer, marking a fresh chapter for the company.Post-transaction, Walgreens, The Boots Group, Shields Health Solutions, CareCentrix, and VillageMD will operate as separate stand-alone companies. Stefan Kaluzny, Managing Director of Sycamore, said, “Walgreens Boots Alliance, its companies and its dedicated team members play an essential role in the communities they serve around the world. We look forward to partnering with the management teams at each company, including Walgreens, The Boots Group, Shields Health Solutions, CareCentrix and VillageMD. As standalone companies under private ownership, they will build on their proud legacies to enhance the customer experience and deepen the trusted relationships they have earned with millions of customers around the world.”Stefano Pessina said, “This milestone begins a new chapter for Walgreens, The Boots Group and the other portfolio businesses. Our family has proudly supported these companies for decades, and we are pleased to continue that commitment alongside Sycamore. Together, we are united in our belief in the future of these organizations and the essential role they play in millions of lives each day.”Boots traces its roots back to 1849, when John Boot opened his first store, and completed its mega-merger with Walgreens in 2014.