In case you missed it last week, Walgreens (the US’s largest Drugstore Chain) made a big purchase in order to crack the New York City market with the acquisition of Duane Reade. This move will more than quadruple Walgreens stores in NYC as Duane Reade’s network of 257 stores puts them just around the corner from most New Yorkers.
This move may also have an impact on the Canadian market.
The CEO of Duane Reade is ex-Loblaw president John Lederer who resigned from Canada’s largest grocer in 2006. He was hired by Duane Reade’s investors in 2008 in order to turn the ailing banner into a business that could be sold. It appears he was successful.
Whether Walgreens will keep a separate management structure in NYC for Duane Reade is unknown but this could mean that John Lederer will be looking for a new role – maybe one in Canada.
With experience in both Food and Drug retailing it would be likely that a major Canadian retailer may be interested in finding Mr. Lederer a corner office in their headquarters.
Let the speculation begin…