Headquarters: 440 Ninth Avenue
New York, NY 10001
CEO: Greg Wasson
Owned by Walgreens
Duane Reade is the largest drug store chain in the metropolitan New York City area, offering a wide variety of prescription and over-the-counter drugs, health and beauty care items, cosmetics, greeting cards, photo supplies and photofinishing. A subsidiary of Walgreens, most Duane Reade stores also offer food including sushi, sandwiches and salads.
Duane Reade's aggressive and targeted store opening program has expanded the chain from 67 stores at the end of 1997 to over 250 stores today. There are over 140 locations in Manhattan.
In 2010, Walgreens acquired Duane Reade for $1.18 billion. The stores added the tagline Duane Reade by Walgreens in 2014.
In 2011, Duane Reade opened a 22,000 square-foot flagship store at 40 Wall St. in the Trump Builidng in lower Manhattan, formerly known as Bank of Manhattan Trust Building. The store is open 24 hours and features a hair salon, smoothie bar, sushi chefs, on-site doctor, manicures and shoe shine.
Founded in 1960, Duane Reade began as one store on Broadway between Duane and Reade Streets in Manhattan, and has expanded to occupy the leading market share position in the area.
On July 30, 2004, Duane Reade was acquired by Oak Hill Capital Partners LP, a private equity firm with investments in over 40 other companies and more than $4.6 billion under management. The acquisition was achieved through a purchase of all of the outstanding shares of Duane Reade's common stock, combined with a reissuance of the Company's public debt.
Duane Reade is now owned by Walgreens, one of the nation's largest drugstore chains.