US-based retail pharmacy Walgreens Boots Alliance has sold its pharmaceutical distribution division Alliance Healthcare Russia to Russian health and beauty retailer 36.6.
Once the deal is complete, Walgreens Boots Alliance will own a 15% stake in 36.6.
Former manager of Walgreens Boots Alliance Melik-Guseinov was quoted by Russia Beyond The Headlines as saying that the firm was interested in purchasing 36.6 in 2007; however, a deal was dropped due to the 2008 financial crisis.
Walgreens Boots Alliance was created through the combination of Walgreens and Alliance Boots in December 2014.
It owns more than 13,000 outlets in over ten countries, as well as more than 350 distribution centres.
It is also claimed to be one of the world’s largest purchasers of prescription drugs and many other health and wellbeing products.
The company’s portfolio of retail and business brands includes Walgreens, Duane Reade, Boots and Alliance Healthcare, as well as health and beauty product brands such as No7, Botanics, Liz Earle and Soap & Glory.