drugstore.com

Or so it appeared Thursday, when drugstore chain Walgreen paid $429 million, or 0.9 times last year's sales, for drugstore.com.

Walgreen's Need for Speed John Jannarone 2011

Adjusting for a tax benefit from drugstore.com's past losses, the consideration is $80 million less.

Walgreen's Need for Speed John Jannarone 2011

The rich multiple surprised some investors, given drugstore.com has struggled to turn a profit and Walgreen already has a healthy online business.

Walgreen's Need for Speed John Jannarone 2011

John Frieda's Frizz-Ease extra-strength serum makes 'unruly frizz' sleek and shiny 1.69 oz., $8.99, drugstore.com.

The Taming of the Curl Anjali Athavaley 2011

There are some limitations to the drugstore.com deal.

Walgreen's Need for Speed John Jannarone 2011

Bloomberg News The rich multiple paid by Walgreen surprised some investors, given drugstore.com has struggled to turn a profit and Walgreen already has a healthy online business.

Walgreen's Need for Speed John Jannarone 2011

The per-share deal price is more than double the $1.79 closing price of drugstore.com's stock on Wednesday.

The Seattle Times 2011

Walgreen to spend about $429M for drugstore.com Drugstore operator Walgreen Co. said Thursday it will spend about $429 million to buy online retailer drugstore.com in a deal that gives it access to 3 million online customers.

The Seattle Times 2011

The price Walgreen pays will total about $409 million, as it picks up drugstore.com's $20 million in cash.

The Seattle Times 2011

Drugstore operator Walgreen Co. said Thursday it will spend about $429 million to buy online retailer drugstore.com in a deal that gives it access to 3 million online customers.

The Seattle Times 2011