Alliance Boots has announced that its US partner Walgreens has exercised its option to merge the companies in a deal expected to reach completion in Q1 2015.
The deal will form a new organisation called Walgreens Boots Alliance, which will be the first global pharmacy-led health and wellbeing enterprise.
The Boots headquarters will still be based in Nottingham and the support offices of Alliance Healthcare will remain across Europe. The new combined enterprise will be based in the Chicago area.
The management team, led by Greg Wasson as president and chief executive, will include senior executives from both companies. Stefano Pessina, executive chairman at Alliance Boots, will act as executive vice-chairman of the new firm.
Mr Pessina said: “The expected creation of the new enterprise will represent the most significant milestone in the history of our group and, importantly, a very positive step for the future of the healthcare industry as a whole.”