The Weston holding company said it will buy the UK pharmacy chain from Sycamore Partners and the Pessina family, including debt. The deal covers Boots in the UK and Ireland, Boots Opticians and No7.
Canada's Weston family holding company said on Wednesday it had agreed to buy the UK pharmacy chain Boots from Sycamore Partners and the Pessina family for 8.9 billion dollars, including debt, Reuters reported.
The sale is a step in Sycamore's plans for Walgreens after the private equity firm took the US chain private in 2025 in a deal valued at about 10 billion dollars. The Boots transaction covers retail operations in the UK and Ireland, Boots Opticians, the No7 Beauty Company, and Thailand and franchised businesses.
The Weston group owns the Canadian grocer Loblaw and Shoppers Drug Mart, Canada's largest pharmacy, health and beauty business. It previously owned the London department store Selfridges from 2003 to 2021.
Reuters presented the item as an agreed purchase. No closing date was included in the dispatch.
The next step not stated in the report is completion of the sale. No regulatory timetable was given.