Wittington to acquire Boots for $8.9 billion — CBC World
In the United Kingdom, Wittington Investments, the Weston family’s holding company, said it will acquire the Boots pharmacy chain from private investment firm Sycamore Partners. The deal is valued at $8.9 billion including debt, CBC World reports.
What is included in the deal
Along with Boots’ retail business in the United Kingdom and Ireland, Wittington will acquire the chain’s operations in Thailand, franchise businesses, its optical division and No7 Beauty Company. Founded in 1849, Boots has about 1,800 outlets and is among the United Kingdom’s most prominent retail chains.
It is unknown whether the acquisition will mean Boots’ return to Canada, where the chain previously operated. If it returns, Boots could compete with the Canadian chain Shoppers Drug Mart, which has about 1,350 stores in the country.
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Partnership with Fairfax
Canadian holding company Fairfax Financial Holdings Ltd. will be Wittington’s partner in the acquisition. The deal is expected to be completed in the first quarter of 2027. After it closes, Galen Weston will become chairman of Boots.
The Weston family is known in Canada through Loblaw Companies Ltd. and George Weston Ltd., and also owns the Holt Renfrew department store. It also has a stake in Associated British Foods, the parent company of discount retailer Primark.
