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Walgreens-Owner Nears $9 Billion Sale of Boots
- Boots is nearing a roughly £7 billion sale deal to the Canadian Weston family, according to reports. This acquisition would bring the UK-based Boots business under the ownership of the family that controls Wittington Investments.
- Private equity owner Sycamore is in advanced talks regarding the sale, only a year after acquiring parent firm Walgreens Boots Alliance. The firm previously held discussions with Australian pharmacy business Sigma Healthcare, which pulled out earlier this summer.
- The Canadian Weston family owns the grocery chain Loblaws through Wittington Investments. This deal would mark a return to British retail for the family, who sold luxury department store business Selfridges for £4 billion in 2022.
- Sycamore had also considered a potential IPO for the UK-based Boots business on the London stock market. The Private firm split the business into divisions, including No7 Beauty and pharmacies in Germany, Mexico, and Thailand, since taking over.
- The Wall Street Journal reported that a deal could be reached over the next week. As the sale progresses, the business remains divided into units like Boots and No7 Beauty.
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Billionaire Weston family closes in on £7bn Boots takeover
The Canada arm of the billionaire family behind Primark is inching towards another deal, as it closes in on a £7bn takeover of Boots from its private equity owners. The Westons are in advanced talks to buy the UK pharmacy chain from Sycamore Partners, ending hopes of a potential London IPO. Discussions are ongoing, a [...]
·London, United Kingdom
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Coverage Details
Total News Sources18
Leaning Left2Leaning Right2Center6Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
L 20%
C 60%
R 20%
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