Boots nears $9bn sale to Weston family, deal could come as early as next week

Sycamore Partners, the private-equity owner of Walgreens, is nearing a deal to sell British pharmacy and beauty chain Boots to the Canadian branch of the billionaire Weston family for close to $9 billion including debt, the Wall Street Journal reported on 30 September, citing people familiar with the matter. (https://www.wsj.com/business/retail/walgreens-owner-nears-deal-to-sell-british-pharmacy-chain-boots-2408df6e)

The Financial Times reports discussions are advanced, with a deal possibly agreed as early as next week, though negotiations remain ongoing and no final decision has been made. Retail Week confirmed the $9bn figure and the timing on 1 October. (https://news.mc/2026/10/01/boots-nears-9bn-sale-with-monaco-billionaire-holding-major-stake/ | https://www.retail-week.com/health-and-beauty/boots-close-to-9bn-sale-to-weston-family/7052257.article)

Sycamore took Walgreens private in 2025 in a deal valued at $24 billion including debt, and has since separated the company into five standalone units to facilitate sales of non-core businesses, including Boots. (https://www.wsj.com/business/retail/walgreens-owner-nears-deal-to-sell-british-pharmacy-chain-boots-2408df6e)

The Weston family, a Canadian-British food-business clan whose Canadian arm oversees Loblaw and Shoppers Drug Mart through Wittington Investments, would be returning to British retail four years after selling Selfridges for £4 billion. (https://www.wsj.com/business/retail/walgreens-owner-nears-deal-to-sell-british-pharmacy-chain-boots-2408df6e | https://news.mc/2026/10/01/boots-nears-9bn-sale-with-monaco-billionaire-holding-major-stake/)

Boots generated £7.5 billion in revenue in the year to August 2025, while pre-tax profits rose 25 per cent to £337 million. Both Sycamore and Boots declined to comment, Reuters reported on 30 September. (https://wncy.com/2026/09/30/walgreens-owner-sycamore-nears-9-billion-sale-of-boots-wsj-reports/)