Duane Reade: Walgreen buy Duane Reade

Duane ReadeDuane Reade is one of the most popular searches today; did you know what Duane Reade is? Duane Reade is a chain of drug and convenience stores, primarily located in New York City, Duane Reade known for its high volume small store layouts in densely populated Manhattan locations.
Duane Reade was founded in 1960, the chain was started with three stores by Abraham, Eli, and Jack Cohen, with a warehouse located between the Duane and Reade streets on Broadway in lower Manhattan. The Cohen family sold Duane Reade to Bain Capital in 1992 "for a reported $230 million". Bain Capital in 1997 then sold majority ownership of the chain to DLJ. Duane Reade completed its initial public offering (IPO) on February 10, 1998, trading on the New York Stock Exchange under the ticker symbol DRD. On August 2, 2004, the company announced it was acquired by Oak Hill Capital Partners and taken private. In November 2008, Duane Reade began rolling out a new logo. In April 2009, Duane Reade hired DeVito/Verdi as its lead advertising agency. On February 17, 2010, Walgreens announced plans to acquire Duane Reade for $1.075 billion, including debt.

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