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A master acquirer's many strategies

Italian billionaire Stefano Pessina has been working a broad strategy: Convinced that the drug-distribution business was destined to consolidate, Pessina keeps swallowing increasingly bigger companies. The result — at least one of the most recent — the merger of US-based Walgreens and Switzerland-based Alliance Boots into WBA. These two are significantly different companies, but here's Pessina's strategy for US retail: Infuse the Sephora-like stylishness of Boots into the efficiency and convenience of Walgreens stores.

Pessina is not done yet. He's eyeing CVS Health, but faces a giant challenge. While Walgreens pushes consumer products, CVS Health has positioned itself powerfully around health. Two opposing strategies! If Pessina can combine the two companies, it would be very interesting to see what his strategy would be.

Source: Fortune February 1, 2016

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