Plans for a potential $10 billion sale of Boots have suffered a significant setback after Australian healthcare group Sigma Healthcare confirmed it has withdrawn from takeover discussions, according to reporting by the Financial Times…
Sigma, which owns the Chemist Warehouse retail chain and a major pharmaceutical wholesale business in Australia, said the acquisition no longer aligned with its strategic and capital investment priorities. The company had been in discussions with Sycamore Partners, the private equity group that acquired Walgreens Boots Alliance last year and now controls Boots.
For Monaco, the story also carries a familiar name. Stefano Pessina remains closely connected to the future of Boots, the retailer he helped build into a global healthcare and pharmacy powerhouse. The Monaco-based billionaire is understood to retain a significant interest in the business through the private ownership structure established following Sycamore Partners’ takeover of Walgreens Boots Alliance, meaning any future sale would represent another important milestone in his decades-long association with one of Britain’s most recognisable retail brands.
The withdrawal leaves Canada’s Weston family, owners of Loblaw and Shoppers Drug Mart through Wittington Investments, as the most prominent known party to have explored a potential transaction. However, no agreement has been announced and discussions remain uncertain.
Analysts noted that Sigma’s involvement was not without value. Market observers said the company gained insight into investor sentiment regarding a major international acquisition while also deepening its understanding of the UK pharmacy sector ahead of its own expansion plans. Sigma recently entered the British market through a joint venture with GreenLight Healthcare, a small London-based pharmacy chain.
Investors reacted positively to the decision, with Sigma shares rising after the announcement. The company said it will remain focused on opportunities in Australia while continuing to evaluate future acquisitions.
The development adds another twist to Boots’ long-running ownership saga, with the historic pharmacy chain continuing to attract interest despite years of uncertainty over its future.