Boots sold in £7bn deal to Canadian billionaire family

Boots sold in £7bn deal to Canadian billionaire family

High street pharmacy giant Boots has been acquired by Canada’s billionaire Weston Family for an $8.9 billion (£6.7 billion) reported deal. The acquisition was made through the family’s investment vehicle, Wittington Investments, which bought the retailer from the private equity firm Sycamore Partners and the Pessina family.

The deal brings a massive retail portfolio under the Weston family’s control and ends months of speculation over whether Boots would make a highly anticipated return to the London Stock Exchange

The Weston family is one of the world’s wealthiest retail dynasties.

In the UK: They are best known for holding a majority stake in Associated British Foods (the parent company of fashion giant Primark) and owning the luxury department store Fortnum & Mason. They also previously owned Selfridges before selling it for £4 billion in 2022