Weston family to acquire U.K. pharmacy chain Boots in $8.9B deal
The Weston family, owners of Loblaw and Shoppers Drug Mart, has acquired the British pharmacy chain Boots for $8.9 billion. The deal includes Boots' retail operations in the UK and Ireland, as well as its beauty brand No7 and optical division.
Why it matters
This major acquisition consolidates a significant portion of the retail pharmacy market under a single global holding company, potentially impacting healthcare service delivery.
The Weston family, which owns Canada’s largest grocery chain, Loblaw , and Shoppers Drug Mart , has acquired Boots, the British high street pharmacy and beauty retailer.
The Weston family holding company, Wittington Investments, said Wednesday it is purchasing Boots and its associated businesses for USD $8.9 billion (CAD $ 12.7 billion).
Along with Boots’ retail operations in the U.K. and Ireland, Wittington will acquire the company’s franchised arm in Thailand as well as its optical division and beauty brand No7.
Wittington’s connection to the U.K. includes having previously owned Selfridges — the high-end department store —from 2003 to 2021. The famous retailer first opened on Oxford Street in London in 1909. Boots was founded in Nottingham 177 years ago by John Boot. Nottingham remains the home of its headquarters.
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