Boots sold in £7bn deal to Canadian billionaire family
Summary
Boots, the UK and Ireland pharmacy and retail chain, has been sold for £6.7 billion to Wittington Investments, the holding company of Canada's Weston family. The deal, which includes Boots Opticians and other businesses, is set to finish early next year.Key Facts
- Boots was sold for $8.9 billion (£6.7 billion) to Wittington Investments.
- Wittington is owned by the Canadian billionaire Weston family.
- The seller was Sycamore Partners, a US private equity firm that owned Boots for 18 months.
- The deal includes Boots' retail stores in the UK and Ireland, Boots Opticians, No7 Beauty Company, and its businesses in Thailand and franchises.
- The sale is expected to be completed early in 2027.
- Boots has struggled with debt and many customers buying cheaper products online.
- The Weston family plans to invest more money and focus on long-term stable ownership.
- Galen Weston will become the new chairman of Boots after the sale.
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