Not everyone is excited about the deal. The Private Equity Stakeholder Project, which bills itself as a watchdog organization rooting out the impacts of private investment, said in March it was “very wary” of the deal, noting several of Sycamore’s portfolio companies have filed for bankruptcy.
The watchdog group further noted that Sycamore appears to be paying for the acquisition mostly using debt, which could leave Walgreens financially vulnerable down the line.