The Cohen family sold Duane Reade to Bain Capital in 1992 for a reported $239 million. The streets themselves were named after early American politicians James Duane (1733-1797) and Joseph Reade (1694-1771). Duane Reade takes its name from the company's first successful full-service drugstore, which opened in 1960 on Broadway between Duane and Reade Streets in TriBeCa just north of the Financial District.
History įounded in 1960, the chain was started with three stores by Abraham, Eli, and Jack Cohen, with a warehouse located between Duane Street and Reade Street on Broadway in Lower Manhattan. In 2012, the company headquarters was moved to 40 Wall Street in Lower Manhattan, the location of its newest flagship store. They are known for high-volume, small store layouts in densely populated Manhattan locations.
Its stores are primarily in New York (metropolitan New York City, Nassau, Suffolk, Westchester, Rockland, and Fairfield Counties) and in New Jersey. ( / d w eɪ n ˈ r iː d/ dwayn REED) is a chain of pharmacy and convenience stores owned by Walgreens Boots Alliance.
