Boots-Alliance Unichem Union Forms Europe’s Biggest Pharmacy Chain

London, British health and beauty retailer Boots and pharmacy chain Alliance Unichem merged to create Europe’s biggest retail pharmacy chain.

The new group, dubbed Alliance Boots, will employ approximately 100,000 staff in nearly 3,000 store locations in Britain and Europe. The united company’s sales are expected to surpass the $22.8 billion mark, sparking speculation that Alliance Boots will be able to compete with Britain’s two largest chains, Tesco and the Wal-Mart-owned Asda.

On Monday, the stocks of both companies rose, as Boots’ shares leapt 7.31% to 653 pence and Alliance Unichem’s stocks surged 3.64% to 898 pence.