Boots Has Been Sold For £6.7 BILLION — And The Buyers Once Owned Selfridges

Stop scrolling, because the shop where you've grabbed a meal deal, a lipstick AND a last-minute travel adaptor just got a new owner. Boots has been sold in a £6.7bn ($8.9bn) deal. Yes, really.

So, Who Just Bought Boots?

Canada's billionaire Weston family, via their holding company Wittington Investments, has agreed to buy the chain, BBC News reports. The sellers are US private equity firm Sycamore Partners and the Pessina family. Sky News says the deal covers Boots' roughly 1,800 stores across the UK and Ireland.

The Westons own Canadian grocery giant Loblaws and the pharmacy chain Shoppers Drug Mart. They also used to own Selfridges in London, which they sold in 2021. A separate UK branch of the family is the majority owner of Associated British Foods, the parent company of Primark, according to the BBC.

Wittington will run Boots day to day, in partnership with Toronto-based Fairfax Financial Holdings.

What's Actually In The Deal?

The deal covers Boots' UK and Ireland retail operations, Boots Opticians, the No7 Beauty Company and its Thailand and franchised businesses, per the BBC. Completion is expected in early 2027.

Not everything is part of it. Sycamore Partners and the Pessina family will keep Farmacias Benavides in Mexico and Alliance Healthcare Deutschland in Germany.

What Are The New Owners Promising?

Galen Weston, who will become Boots chairman, said the company plays "a vital role in everyday life across the UK and Ireland." He pitched the plan as "stable long-term ownership" with more investment, per the BBC. The BBC says he also signalled shop upgrades and an expansion of healthcare services.

Why This Is A Big Deal

Boots is 177 years old. It started in 1849 when John Boot opened a herbalist shop in Nottingham, offering an affordable alternative to traditional medicines.

It has also been through a lot of ownership changes. The BBC notes its status has been uncertain over the past two decades, with several changes of hands either discussed or completed.

The business has performed well in recent years, but it hasn't been easy. The BBC says it faces rival competition and changing shopping habits, and fewer people are passing through town centres now that more of us work from home. Boots has closed hundreds of branches and now has about 51,000 employees.

The Tea ☕

• Boots has been sold for £6.7bn ($8.9bn) to Canada's Weston family via Wittington Investments.
• The deal covers about 1,800 UK and Ireland stores, plus Boots Opticians and No7 Beauty, and is expected to complete in early 2027.
• The new owners are promising investment, shop upgrades and more healthcare services.

What Happens Next?

For now, nothing changes on your local High Street. The sale needs to complete in early 2027, and the details of the promised upgrades haven't been spelled out in the reporting so far.

What do you want from Boots under new ownership: better stores, more healthcare services, or just don't touch the meal deal? Tell us in the comments.

Sources: BBC News, Sky News