Boots sold for $8.9bn to billionaire family behind Primark

By Lynsey Barber | Published: 7-Oct-2026

Private equity firm Sycamore Partners and Stefano Pessina, former Executive Chairman of Boots, have sold the UK health and beauty retailer to Canada’s Weston family in a multi-billion-dollar deal

Boots has been sold to Wittington Investments, the Canada-based holding company of the billionaire Weston family, in a US$8.9bn deal.

Wittington Investments has agreed to acquire the UK health and beauty retailer’s operations across the UK and Ireland from private equity firm Sycamore Partners and Stefano Pessina, the former Executive Chairman of Walgreens Boots Alliance (WBA).

The deal also includes Boots’ own-brand beauty line No7 Beauty, Boots Opticians, and Boots’ business in Thailand as well as franchised operations.

“For all of our social impact and commercial success to date, the opportunity ahead is even greater,” said Alex Baldock, CEO of Boots.

“I look forward to making the most of that opportunity and building a world-class Boots for our colleagues, customers, patients, and communities.”

The Weston family owns grocery chain Loblaw and pharmacy chain Shoppers Drug Mart in Canada, plus has a stake in Associated British Foods (ABF), the parent company of UK-based retailer Primark, via its UK branch of the family company and previously owned UK luxury department store Selfridges.

Galen Weston, Chairman of Wittington Investments, will become Chairman of Boots when the deal closes, which is expected in the first quarter of 2027, subject to regulatory approval.

“Boots is one of Britain's most enduring businesses, with a rich heritage, a trusted name and a vital role in everyday life across the UK and Ireland," said Weston.

“We have great respect for Boots' legacy and leading market position.

“We see a meaningful opportunity to make a great business even better through stable long-term ownership, further capital investment, and the renewed operating focus required to serve customers with excellence for generations to come.

Sycamore Partners and Stefano Pessina acquired Walgreens Boots Alliance (WBA) last year, turning Boots into a standalone company.

"Boots is an iconic brand and a British institution," said Pessina.

“It has been one of the privileges of my and Ornella's [Barra, Boots Group Chairperson and former Boots CEO] life to have been so closely associated with Boots over the last 20 years.

“We are delighted to be passing on a thriving Boots to strong and reliable owners who understand the value of its great heritage.

“Our best wishes go with them as they lead Boots into its next chapter, and our sincere thanks go to all on the Boots team who helped us deliver so much over the past 20 years.”

Pessina and his family will retain ownership of The Boots Group’s other interests in Farmacias Benavides and Alliance Healthcare Deutschland, which they acquired in the deal for WBA.