British pharmacy giant Boots is changing hands in a €7.9 billion deal that will see Canadian billionaire Galen Weston’s family take control of one of the UK’s best-known high street retailers…
As reported by the BBC, Wittington Investments has agreed to acquire the 177-year-old business from American private equity group Sycamore Partners and the family of Monaco resident Stefano Pessina.
The transaction includes approximately 1,800 Boots stores across the UK and Ireland, employing around 51,000 people, alongside Boots Opticians, No7 Beauty Company and international operations.
Founded in Nottingham in 1849, Boots has undergone several ownership changes in recent decades. Despite closing hundreds of stores, the retailer recently reported annual sales of €8.8 billion, representing growth of 3.2 percent.
The Weston family, whose business interests include Canadian supermarket chain Loblaws and pharmacy group Shoppers Drug Mart, previously owned London department store Selfridges.
Galen Weston, who will become Boots chairman, has outlined plans to invest in store improvements and expand healthcare services.
Meanwhile, Pessina and Sycamore will retain ownership of pharmacy operations in Mexico and healthcare distribution interests in Germany.
The acquisition, backed by Fairfax Financial Holdings, is expected to be completed in early 2027.