Boots set to be bought by billionaire Canadian family in fresh blow to London stock market
The chemist could be sold for around £6.8billion. Dan Coatsworth, head of markets at AJ Bell, said a takeover by the Westons would make it 'unlikely that an IPO of Boots would happen any time soon.'
Sycamore Partners is reportedly close to finalizing a $9 billion sale of Boots to the Canadian branch of the Weston family, according to recent reports. The financial transaction, which could see the health and beauty retailer valued at nearly $9 billion, is nearing completion, although negotiations are still ongoing. The Weston family, through their investment vehicle Wittington Investments, would acquire Boots, joining their existing holdings in Canadian grocery retailer Loblaws and pharmacy chain Shoppers Drug Mart.
The potential sale would give the family a stronger presence in UK retail, four years after they sold department store Selfridges for £4 billion. Boots, previously acquired by Sycamore in 2022 as part of their $23.7 billion takeover of parent company Walgreens Boots Alliance, has seen growth in its UK operations in recent years.
Revenue reached £7.5 billion for the year ending August 2025, with pre-tax profits rising by approximately 25% to £337 million.
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- Sycamore nears $9bn sale of Boots to Weston family privateequitywire.co.uk
