Boots could be heading for a change of ownership once again, with discussions under way over a potential £7.5 billion ($10 billion) sale that would likely end plans for a return to the London stock market…
As reported by the Financial Times, private equity firm Sycamore Partners, which acquired Boots last year as part of its takeover of Walgreens Boots Alliance, has begun exploring a sale of the iconic British pharmacy and beauty retailer. Potential buyers reportedly include the Canadian branch of the billionaire Weston family, owners of grocery giant Loblaw and pharmacy chain Shoppers Drug Mart, as well as Australian healthcare group Sigma Healthcare.
Stefano Pessina remains closely involved in the future of Boots despite Sycamore Partners’ ownership of the business. The Monaco-based billionaire, who built the company through a series of mergers culminating in the creation of Walgreens Boots Alliance, reportedly retains a significant stake in the retailer through the private ownership structure established following Sycamore’s takeover. Any future sale would therefore mark another important chapter in the long relationship between Pessina and the pharmacy chain he helped transform into a global healthcare and retail giant.
According to the Financial Times, discussions remain at an early stage and no final decision has been taken. However, a successful sale would mark another milestone in the long history of Boots, which traces its origins back to a single Nottingham chemist founded in 1849.
The news comes despite improving financial performance. Boots recently reported revenues of £7.5 billion for the year to August 2025, up 3.2 percent, while pre-tax profits rose 25 percent to £337 million. Growth was driven by strong beauty sales and increasing demand for weight-loss treatments.
Industry observers had speculated that Boots might pursue a London listing after appointing former Currys chief executive Alex Baldock to lead the business. A sale to a strategic buyer would instead keep the retailer in private ownership while potentially opening a new phase of international expansion.
