Weston family completes £6.7bn Boots UK deal
Canada’s Weston family has finalized the acquisition of Boots UK for £6.7 billion, resolving a deal that had paused in August after the buyer reduced its initial offer. Wittington Investments, the Weston family’s investment vehicle, will now control Boots’ retail and pharmacy operations across the UK and Ireland, along with its optician chain, the No7 beauty brand, and franchise operations in Thailand.
The transaction marks the end of protracted negotiations between Boots’ private equity owner, Sycamore Partners, and the Weston family. Earlier this year, Sycamore had considered taking Boots public through a London IPO in 2027 but ultimately opted for a full sale. The final price closely matches Boots’ original £7 billion valuation, despite earlier reports of a lower bid in August that created a temporary deadlock.
Under new CEO Alex Baldock, who joined in September from Currys, Boots has accelerated growth in beauty, personal care, and wellness sectors. Since his appointment, the retailer has expanded its beauty offerings to include over 500 brands in physical and online stores, adding nearly 60 new names in the past year alone.
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