Boots owner ‘closing in on sale to Canada’s Weston family for $9bn’
Summary
The private equity firm Sycamore Partners is close to selling the British pharmacy chain Boots to the Canadian Weston family for about $9 billion. This deal would bring the Weston family back to the UK retail market after previously owning Selfridges.Key Facts
- Sycamore Partners bought Walgreens Boots Alliance for $23.7 billion in 2025.
- The Weston family owns several Canadian businesses, including Loblaws grocery stores and Shoppers Drug Mart pharmacies.
- The Weston family sold the UK department store Selfridges in 2022 for £4 billion.
- Boots has about 1,800 stores in the UK and employs around 51,000 people.
- Boots was founded in 1849 in Nottingham and has changed ownership several times in the past 20 years.
- Last summer, Boots reported a 3.2% revenue increase to £7.5 billion and a 25% pre-tax profit rise to £337 million.
- Sycamore had previously tried but failed to sell Boots to Australian company Sigma Healthcare for $10 billion.
- Sycamore is breaking up Walgreens Boots Alliance into separate companies as it plans to sell parts, including Boots.
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