Westons to Buy UK Pharmacy Chain Boots for US$8.9B
The family behind Canada’s biggest pharmacy and grocery chains is growing its empire with the acquisition of U.K. drugstore Boots. Weston family holding company Wittington Investments said Wednesday that it will purchase Boots for US$8.9 billion (C$12.7 billion), including debt, from private equity firm Sycamore Partners. Along with Boots’ retail operations in the U.K. and Ireland, Wittington will acquire its operations in Thailand, franchised businesses, its optical division and No7 Beauty Company. Toronto-based holding company Fairfax Financial Holdings Ltd. will partner with Wittington on the acquisition and after its closing, expected in the first quarter of 2027, Galen Weston will become Boots’ chairman. Wittington having operational control upon close...
The Weston family, through their holding company Wittington Investments, will purchase the U.K. drugstore Boots for US$8.9 billion. The acquisition includes Boots’ retail operations in the U.K. and Ireland, as well as its international and franchised businesses, optical division, and No7 Beauty Company. Galen Weston is set to become Boots’ chairman following the transaction’s closure in early 2027.
- Wittington Investments, owned by the Weston family, is acquiring Boots for US$8.9 billion.
- The deal includes Boots’ U.K. and Ireland retail operations, international operations in Thailand, franchised businesses, its optical division, and No7 Beauty Company.
- Fairfax Financial Holdings Ltd. will partner with Wittington on the acquisition.
- Galen Weston will become Boots’ chairman after the acquisition closes in the first quarter of 2027.
- Wittington will have operational control upon closing.
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