Canada’s Weston family buys Boots for $8.9bn

A Canadian investment group with ties to major retail chains has acquired Boots, the long-standing UK pharmacy and beauty retailer, in a deal valued at nearly $9 billion. The purchase includes Boots’ UK and Irish retail operations, its opticians chain, and the No7 beauty brand, along with a franchise presence in Thailand. The move follows the sale by longtime backer Stefano Pessina, marking a shift in ownership for the high street institution. The transaction underscores growing interest in consolidating retail and healthcare services under large-scale investors.

Former Selfridges owners buys UK high street institution from long-term backer Stefano PessinaThe Canadian family that once owned Selfridges department store has bought UK pharmacy and beauty retailer Boots for $8.9bn (£6.74bn).Wittington Investments, the holding company of the Weston family that controls the Loblaws grocery chain and Drugmart pharmacy chain in Canada, will own Boots’ UK and Irish retail operations and opticians chain, the No7 beauty brand and a franchise arm in Thailand. Continue reading...