Canada's Weston Family Agrees to Buy Boots
Canada's Weston family has agreed to buy the store chain Boots. The family's holding company Wittington Investments announced the deal on Wednesday.
It will pay 8.9 billion US dollars including debt. That is about £7 billion.
Boots is being sold by private equity firm Sycamore Partners. Fairfax Financial is also partnering in the purchase.
The deal has not yet closed. Closing is expected in the first quarter of 2027.
Reports say Galen Weston is expected to become Boots chairman. It includes Boots' British and Irish stores and its eye care chain.
It also includes the No7 beauty brand. A franchise arm in Thailand is part of the deal.
The Weston family once owned the store Selfridges. Wittington Investments also controls Loblaw grocery stores and Shoppers Drug Mart pharmacies.
Sycamore bought Boots' former parent Walgreens Boots Alliance in 2025. So Boots will have new owners again in a little over a year.
Key Terms 3
- Holding company A company that owns shares in other companies.
- Private equity firm A company that buys other businesses using money from investors.
- Franchise A business that uses another company's name and products under an agreement.