Canada’s Weston family has agreed to acquire UK pharmacy and healthcare retailer Boots from private equity firm Sycamore Partners and the Pessina family in a deal valued at $8.9bn, according to a report by Reuters.
Wittington Investments, the family’s holding company, will take control of Boots’ UK and Ireland retail operations, Boots Opticians, No7 Beauty Company, as well as the retailer’s Thailand and franchised businesses.
The transaction is expected to complete in the first quarter of 2027 and will see Wittington take operational control, with Toronto-based holding company Fairfax Financial Holdings partnering on the acquisition.
The Westons plan to invest in Boots’ physical stores, improve its digital offering and support further expansion of its healthcare services. Boots operates more than 1,800 stores and employs over 50,000 people across the UK and Ireland.
Galen Weston, chairman of Wittington, will become chairman of Boots. He said the group saw an opportunity to build on the retailer’s established brand and market position.
The British branch of the Weston family is the majority shareholder of Associated British Foods, the owner of Primark.
Sycamore and the Pessina family will retain ownership of The Boots Group’s other businesses, including Farmacias Benavides and Alliance Healthcare Deutschland.
Sycamore acquired Walgreens Boots Alliance in a $10bn take-private transaction in March 2025.
