THE WHAT? Boots is reportedly in discussions over a potential US$10 billion sale, with bidders including the Weston family and Australian pharmacy group Sigma Healthcare, a move that could replace plans for a future London stock market listing.
THE DETAILS Sycamore Partners, which acquired Boots through its takeover of Walgreens Boots Alliance in 2025, is understood to have begun discussions with potential buyers earlier this year. The Canadian branch of the Weston family, owner of Loblaw and Shoppers Drug Mart, is among the interested parties, alongside Sigma Healthcare, which recently merged with Chemist Warehouse and has ambitions for international expansion. While discussions remain at an early stage, a sale would likely end expectations of a London IPO for Boots. The retailer has recently strengthened its leadership team with the appointment of former Currys CEO Alex Baldock and reported solid financial performance, with revenue rising 3.2% to £7.5 billion and pre-tax profit increasing 25% to £337 million in its latest financial year.
THE WHY? A sale would allow Sycamore Partners to continue its strategy of restructuring and monetising assets acquired through the Walgreens deal, while giving potential buyers access to one of the UK’s largest pharmacy and beauty retail chains. The move also reflects growing interest in health, beauty and pharmacy retail assets with strong consumer brands and established store networks.
Source: Financial Times
