Billionaire Weston family buys Boots for $9bn
The billionaire Weston family has struck a deal to buy Boots for $8.9bn, scuppering hopes that the high street giant could return to the London Stock Exchange. Wittington Investments, the company representing the Westons’ Canadian operations, said on Wednesday it will buy Boots from its private equity owners, Sycamore Partners. Alex Baldock, chief executive of [...]
The Weston family, led by Canadian billionaires Galen and Galen Weston, has agreed to purchase Boots for $8.9 billion, effectively ending discussions of the company returning to the London Stock Exchange. Wittington Investments, on behalf of the Weston's Canadian holdings, announced the acquisition of Boots from its present private equity owners, Sycamore Partners.
Boots' CEO, Alex Baldock, expressed optimism about the future, stating that despite past achievements, "the path forward holds even greater promise." In his address, Galen Weston, who will assume the role of Boots' chairman, affirmed the family's deep respect for Boots' legacy and market standing. He elaborated on the potential benefits of long-term ownership, promising further capital investment and a renewed focus on operational excellence to continue serving customers with exceptional service for years to come.
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- Canada’s Weston family buys Boots for $8.9bn theguardian.com
- Boots sold in £7bn deal to Canadian billionaire family bbc.co.uk
