Boots Acquired in $8.9 Billion Deal by Canadian Billionaire Family

Boots was founded by John Boot, who opened the first herbalist shop in Nottingham in 1849, offering an affordable alternative to conventional medicines.

Over the years the chain has broadened its product range, but health‑related items have remained central to its offering.

In addition to vaccines, Boots provides eye and hearing examinations, delivering essential healthcare services in everyday situations as well as during major crises such as the COVID‑19 pandemic.

The company introduced its loyalty program, the Advantage Card, in 1997; the scheme quickly became highly popular and has served as a model for many other retailers.

Under new leadership, the Weston family – which will assume the chairmanship of Boots – announced plans for store refurbishments and an expansion of healthcare services.

He noted that stable, long‑term ownership, additional capital investment, and a renewed operational focus would enable the business to serve customers with excellence for generations.

The Weston family will acquire Boots’ retail operations across the United Kingdom and Ireland, Boots Opticians, the No7 Beauty Company, and its operations in Thailand and other franchised markets. The transaction is expected to close in early 2027.

The Weston family also owns the Canadian grocery retailer Loblaws and the pharmacy chain Shoppers Drug Mart, and previously owned the London department store Selfridges, which they sold in 2021 for $4 billion.

A different branch of the Weston family holds a controlling stake in Associated British Foods, the parent company of Primark.

The Westons were placed fifth on this year’s Sunday Times Rich List, with a combined net worth approaching £19 billion.

Wittington will retain operational control of Boots, and the acquisition is being made in partnership with Fairfax Financial Holdings, a Toronto‑based holding company.

Sycamore Partners, together with Stefano Pessina and his family, will continue to own Boots’ Mexican subsidiary Farmacias Benavides and its German affiliate Alliance Healthcare Deutschland.

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