Canada's Weston family buys pharmacy chain Boots for $8.9 billion
The Weston family is expanding its retail empire with a $8.9 billion purchase of the U.K. drugstore chain, including debt.
- On Wednesday, October 7, 2026, Canada's Wittington Investments announced an agreement to acquire the UK pharmacy chain Boots from Sycamore Partners and the Pessina family for $8.9 billion, including debt.
- The Weston family, which controls Canada's Loblaw Companies Ltd. and Shoppers Drug Mart, expands its retail empire after previously owning and selling the British department store Selfridges for approximately $6.9 billion in 2022.
- Fairfax Financial Holdings Ltd. is backing the transaction with an equity commitment of approximately $2.3 billion. Upon completion, Fairfax will own 50% of the equity, while Wittington retains operational control.
- Galen Weston, chairman of Wittington and Loblaw, will serve as Chair of Boots. The company plans to boost performance by importing concepts like the PC Optimum loyalty program to Boots' 17 million British members.
- Expected to close in the first quarter of 2027, the acquisition includes Boots' retail operations in the UK and Ireland, Boots Opticians, and No7 Beauty Company, while excluding businesses in Germany and Mexico.
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Canada's Weston family buys pharmacy chain Boots for $8.9 ...
Boots sold for £6.7bn as billionaire Weston family snaps up high street giant
Wittington Investments has announced a deal to buy high street chain Boots for 8.9 billion dollars (£6.7 billion).Wittington Investments is the holding company for the Canadian branch of the billionaire Weston family.It comes only a year after Sycamore took over Boots through the acquisition of parent firm Walgreens Boots Alliance, before splitting the business into divisions.The takeover deal will see Wittington acquire Boots' retail and pharma…
Westons to buy U.K. pharmacy chain Boots for US$8.9B
The family behind Canada's biggest pharmacy and grocery chains is growing its empire with the acquisition of U.K. drugstore Boots. Weston family holding company Wittington Investments says it will purchase Boots for US$8.9 billion (almost C$12.7 billion), including debt, from private equity firm Syc...
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