Boots Pharmacy Chain Sold to Canadian Billionaire Family
Wittington Investments agrees to acquire the UK retailer and its associated businesses for $8.9 billion.
Boots, the prominent UK pharmacy and retail chain, is set to be acquired by Wittington Investments, the holding company of Canada's billionaire Weston family, in a deal valued at approximately $8.9 billion (£6.7 billion).
Announced on Wednesday, the agreement marks a significant shift for Boots, which has been owned by US private equity firm Sycamore Partners for just 18 months. Wittington Investments confirmed it had reached terms with Sycamore Partners for the purchase.
The transaction encompasses Boots' retail operations across the UK and Ireland, along with Boots Opticians, the No7 Beauty Company, and its Thailand and franchised businesses. Galen Weston, chairman of Wittington, is slated to become the new chairman of Boots.
"We see a meaningful opportunity to make a great business even better through stable long-term ownership," Weston stated, emphasizing the company's vital role in everyday life in the UK and Ireland. The acquisition is anticipated to be finalized in early 2027.