Duane Reade drugstores throughout New York will be receiving a slight name change as part of a furthered nominal integration with parent company Walgreens (NYSE:WAG).
The brand will now display signs that say, "Duane Reade by Walgreens," reported the New York Post. Walgreens bought the 54-year-old company for $1.08 billion in 2010.
The rebranding is unfurling "in an effort to strengthen recognition among the Walgreens family of companies," a Walgreens spokesperson told the New York Post.
Most new or remodeled Duane Reade stores will display co-branded logos to include "by Walgreens."
Parent company Walgreens has undergone some of its own recent changes. The drugstore finalized the $16 million acquisition of European chain Alliance Boots. And when it considered moving the company headquarters to Switzerland (ultimately deciding not to), former CFO Wade Miquelon stepped down from his post.
Walgreens ended the third quarter of fiscal 2014 with sales up 6.5 percent thanks to a spike in pharmacy sales, prescriptions filled and front-end comparable sales.
-See this New York Post article
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