Boots’ private equity owner Sycamore is reportedly close to selling the UK pharmacy retailer to the Canadian branch of the Weston family in a deal valued at about $9bn (£7bn), according to multiple reports.
The proposed transaction would mark the Westons’ return to the UK retail market after they sold department store group Selfridges for £4bn in 2022. The Guardian reports that the wider Walgreens Boots Alliance deal to Sycamore is completed, and links the Boots talks to a Financial Times report that completion could happen as soon as next week. The Independent likewise says Sycamore is in advanced talks, adding that the potential sale comes roughly a year after Sycamore takes over Boots.
While the outlets align on the identity of the buyer, the reported sale size, and the fact that talks are advanced, they differ in presentation of timing and currency framing ($9bn versus £7bn). Neither source provides final confirmation that the transaction has been agreed or completed.
