Sycamore Partners agrees $8.9bn Boots exit to Wittington Investments
The 177-year-old pharmacy-led health and beauty retailer has more than 50,000 employees and also includes Boots Opticians and the No7 Beauty Company. The post Sycamore Partners agrees $8.9bn Boots exit to Wittington Investments appeared first on PE Hub .
Sycamore Partners has agreed to an $8.9bn exit from Boots, a 177-year-old pharmacy-led health and beauty retailer. Wittington Investments, the holding company of Canada's Weston family, will acquire Boots' UK and Ireland retail operations, Boots Opticians, No7 Beauty Company, as well as the retailer's Thailand and franchised businesses.
The deal, according to Private Equity Wire, is expected to complete in the first quarter of 2027, with Wittington taking operational control and Fairfax Financial Holdings partnering on the acquisition. Galen Weston, chairman of Wittington, will become chairman of Boots. The retailer operates more than 1,800 stores and employs over 50,000 people across the UK and Ireland.
The Westons plan to invest in Boots' physical stores, improve its digital offering and support further expansion of its healthcare services. Sycamore and the Pessina family will retain ownership of The Boots Group's other businesses, including Farmacias Benavides and Alliance Healthcare Deutschland.
Brief written by urgent.news from PE Hub, Private Equity Wire — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
