History
Founded in 1960, the chain was started with three stores by Abraham, Eli, and Jack Cohen, with a warehouse located between Duane and Reade streets on Broadway in Lower Manhattan.
The Cohen family sold Duane Reade to Bain Capital in 1992 "for a reported $239 million". Bain Capital in 1997 then sold majority ownership of the chain to DLJ.
Duane Reade completed its initial public offering (IPO) on February 10, 1998, trading on the New York Stock Exchange under the ticker symbol DRD. On August 2, 2004, the company announced it was acquired by Oak Hill Capital Partners and was again a private company.
In November 2008, Duane Reade began rolling out a new logo. In April 2009, Duane Reade hired DeVito/Verdi as its lead advertising agency.
On April 9, 2010, Duane Reade was acquired by the Walgreen Company for $623 million.
Read more about this topic: Duane Reade
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