Boots owner ‘closing in on sale to Canada’s Weston family for $9bn’
Deal would mark return of Canadian family to UK after it sold Selfridges department store for £4bn in 2022 Business live – latest updates The private equity owner of high street pharmacy Boots is reportedly closing in on a deal to sell the business to the Canadian branch of the billionaire Weston family for $9bn (£7bn). Sycamore Partners, which bought the wider Walgreens Boots Alliance for…
Private equity firm Sycamore Partners, which acquired Walgreens Boots Alliance in 2025 for $23.7 billion, is reportedly nearing a deal to sell Boots to the Canadian Weston family for $9 billion. If the transaction is finalized, it would be the Weston family's return to the UK high street after they previously owned Selfridges, which they sold for £4 billion in 2022.
The Weston family, known for owning Loblaws and Shoppers Drug Mart in Canada, holds a majority stake in Primark through Associated British Foods. The potential deal would mark a significant move for the Canadian family back to the UK market. Sycamore had previously attempted to sell Boots to Australian pharmaceutical group Sigma Healthcare, but the deal did not go through this summer.
Boots, founded in 1849 by John Boot, has undergone multiple ownership changes in the past 20 years, including a merger with Alliance Unichem in 2006 and a takeover by KKR in 2007. The company employs around 51,000 people and operates 1,800 stores across the UK. In the year ending August 2025, Boots reported a 3.2% increase in revenue to £7.5 billion and a 25% rise in pre-tax profit to £337 million, driven by strong demand for weight loss jabs and beauty products.
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