Davis Polk Advises PharMerica on Its Acquisition by KKR and Walgreens

Davis Polk is advising PharMerica Corporation on its approximately $1.4 billion acquisition by a newly formed company controlled by KKR, with Walgreens Boots Alliance, Inc. as a minority investor. The transaction, which is expected to be completed by early 2018, is subject to PharMerica shareholder approval, regulatory approvals and other customary closing conditions.

PharMerica is a provider of pharmacy services that serves the long-term care, hospital pharmacy management services, specialty home infusion and oncology pharmacy markets. KKR is a global investment firm that manages multiple alternative asset classes. Walgreens Boots Alliance is the largest retail pharmacy, health and daily living destination across the United States and Europe.

The Davis Polk corporate team includes partner Louis Goldberg and associates Laura C. Turano, Erin Walsh and Shanu Bajaj. Partner Edmond T. FitzGerald and associate Tricia E. Walsh are providing executive compensation advice. Partner Ronan P. Harty is providing antitrust and competition advice. Partner Lawrence E. Wieman is providing credit advice. Partner Rachel D. Kleinberg is providing tax advice. Partner Pritesh P. Shah is providing intellectual property and technology advice. Members of the Davis Polk team are based in the New York and Northern California offices.