Sycamore nears $9bn sale of Boots to Weston family
TOP STORY: Sycamore Partners is in advanced discussions to sell UK health and beauty retailer Boots to the Canadian branch of the billionaire Weston family in a transaction that could value the business at about $9bn, according to a report by the Financial Times.
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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