Boots could soon change hands again, with its private equity owner nearing a deal to sell the British pharmacy and beauty chain to Canada’s billionaire Weston family for close to $9 billion…
As reported by the Financial Times, Sycamore Partners is in advanced discussions with the family, which controls Canadian supermarket giant Loblaws and pharmacy chain Shoppers Drug Mart through Wittington Investments.
A deal could reportedly be agreed as early as next week, although negotiations remain ongoing and no final decision has been made.
Sycamore only acquired Boots last year as part of its $23.7 billion takeover of Walgreens Boots Alliance. Since then, Walgreens has been divided into five standalone businesses, with the family of Stefano Pessina retaining a 44 percent stake in each.
For the Westons, acquiring Boots would mark a significant return to British retail four years after selling Selfridges for £4 billion. The family also has longstanding UK interests through its British branch, which controls Primark and owns Fortnum & Mason.
A private sale would potentially end hopes of a Boots return to the London Stock Exchange. The retailer generated £7.5 billion in revenue in the year to August 2025, whilst pre-tax profits rose 25 percent to £337 million.