Boots Pharmacy Nears $9bn Sale to Canada's Weston Family
Sycamore Partners is in advanced talks to sell the UK pharmacy chain to the billionaire Weston family, a deal that could close within days.
The private equity firm Sycamore Partners is reportedly close to finalizing a $9 billion (£7 billion) sale of Boots, the British high street pharmacy chain, to the Canadian branch of the billionaire Weston family, according to the Financial Times. Sources familiar with the matter indicate a deal could be completed as soon as next week.
Sycamore Partners acquired Boots as part of its broader $23.7 billion takeover of Walgreens Boots Alliance in 2025. The reported transaction would carve out the UK pharmacy business as a standalone sale to the Westons, one of Canada's wealthiest dynasties with longstanding retail interests.
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The prospective deal would mark a notable return for the Weston family to the British retail landscape. The family exited a prominent UK holding in 2022 when it sold the luxury Selfridges department store group for approximately £4 billion. A successful acquisition of Boots would reestablish their presence on the British high street, this time in the pharmacy and health-beauty sector rather than luxury retail.
Boots is one of the United Kingdom's most recognized consumer brands, operating hundreds of locations nationwide. The reported $9 billion valuation places a significant premium on the business as a standalone entity, reflecting the brand's enduring footprint and pharmacy network across the country. Analysts have noted that pharmacy-anchored retail assets have attracted renewed investor interest amid shifting consumer health trends, though no independent valuation has been confirmed in connection with this specific transaction.
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