Asda still in running for Boots takeover as major player drops out

By Becky Bargh | Published: 2-Mar-2022
Finance Retail

Bain Capital and CVC Capital Partners dropped out of the race for the health and beauty retailer, paving the way for Asda’s billionaire brothers

Asda has taken one step closer to a buyout deal of high street chain Boots after a major consortium abandoned its takeover plans.

Bain Capital and CVC Capital Partners said they would not submit a bid for the health and beauty chain, Sky News reported.

Described as a “surprise decision”, sources said that price expectations of Boots’ owner – Walgreens Boots Alliance (WBA) – largely caused the termination.

Along with Asda, Apollo Global Management and Sycamore Capital are said to be interested in a takeover.

Offers of more than £6bn, Sky News said, were submitted last week.

Boots currently operates more than 2,000 beauty outlets and employs 55,000 members of staff.

Goldman Sachs is running the sale.

  • Companies:
  • Walgreens Boots Alliance
  • Asda
See more

You may also like

Finance

Boots delivers ‘excellent’ Q4 sales growth while parent company struggles

Read more
The UK beauty retailer has reported its 14th consecutive quarter of market share growth while owner Walgreens Boots Alliance announces US store closures

Trending Articles

  1. Shiseido updates executive board with two new members The appointments aim to further enhance the effectiveness of the Japanese beauty giant’s board of directors
  2. The Body Shop appoints CMO and CFO to drive growth post-acquisition Penny Brook and Sally Dowling have joined the British beauty retailer’s executive leadership team, with the aim to bring the company back to its former glory
  3. L’Oréal launches fund to support supplier decarbonisation The beauty giant has joined forces with Chenavari Investment Managers on the fund, called Solstice
  4. Sephora’s ambitious plan to open 20 UK stores by 2027 The LVMH-owned retailer’s Global President and CEO, Guillaume Motte, wants to ramp up Sephora’s UK expansion plans to challenge established players

Upcoming event

Cosmoprof India 2024

5-7 December 2024 | Mumbai, India See all

You may also like

Finance

Boots delivers ‘excellent’ Q4 sales growth while parent company struggles

The UK beauty retailer has reported its 14th consecutive quarter of market share growth while owner Walgreens Boots Alliance announces US store closures
Retail

Boots partners with Just Eat on beauty and health delivery service

Consumers can now buy more than 1,000 products stocked by the UK health and beauty retailer via the food delivery app
Finance

Boots has named new Managing Director, Sebastian James' successor

Anthony Hemmerdinger will lead the UK health and beauty chain from November, replacing James
Retail

Boots Managing Director Sebastian James exits

James’ departure comes after Walgreens Boots Alliance halted plans for a potential initial public offering (IPO) of Boots in June
Finance

Walgreens scraps Boots sale plans after US company’s shares plunge

The owner of the UK beauty chain has shelved its multi-billion-pound sale plan for the retailer after the company’s share price fell to its lowest level since 1997
Retail

Boots onboards 25 new brands in the battle of the beauty halls

The Beauty Crop, Tree Hut, Coats and Kurl Kitchen now feature in the UK store’s brand line-up
Finance

Walgreens scraps Boots IPO plan as sales talks continue

Parent company Walgreens Boots Alliance has allegedly postponed a planned IPO listing for Boots due to ongoing talks with potential buyers for the UK chain
Subscribe now