Boots UK sold for £7bn to Canadian Billionaire

[gagzus 26,426]

Boots, the High Street pharmacy and retail chain, has been sold in an $8.9bn (£6.7bn) deal to Canada's billionaire Weston family.

Wittington Investments, the holding company, confirmed it had agreed to buy the 177-year-old retailer on Wednesday from US private equity firm Sycamore Partners and the Pessina family.

Boots started as a simple apothecary in Nottingham but has evolved to become a stalwart of the High Street, expanding its business to sell a vast range of health and beauty products, meal deals and travel accessories.

The chain has performed well in recent years despite challenges from rivals and changing shopping habits.

Its stores have seen lower footfall as people switched to working from home rather than visiting town and city centre offices every weekday.

It has closed hundreds of branches across the UK in recent years, leaving it with about 1,800 stores and 51,000 employees, but remains a familiar British brand.

In its most recent annual results, Boots generated £7.5bn in sales - a 3.2% increase on 2024.
 

https://www.bbc.co.uk/news/articles/cwly0jyk2vl5o

 

Edited Thursday at 09:55 AM by gagzus

[Bronco 28,661]

Honestly, at least its no longer owned by private equity.

[gagzus 26,426]

1 minute ago, Bronco said:

Honestly, at least its no longer owned by private equity.

I’ve seen people already saying online that it’s another “lost British institution” as if it wasn’t part of Walgreens from the US anyway lol

[nATAH 58,700]

reduce the price of meal deals NOW

[Bronco 28,661]

27 minutes ago, gagzus said:

I’ve seen people already saying online that it’s another “lost British institution” as if it wasn’t part of Walgreens from the US anyway lol

Yep, and the new owner is already committing to store upgrades.

Think they're going to go after Superdrug and try to push them out the market.

[bxr 3,348]

Back in the day (Pre-Walgreens?) they had a formidable first-aid kit … like a lil‘ nurse station apothecary on the go … the band-aids were a bit wonky, but everything else: well-solid

[Celloo Deng 56,519]

1 hour ago, nATAH said:

reduce the price of meal deals NOW

Back when I was a student I used to get their £1 triple sandwich all the time 

[gagzus 26,426]

1 hour ago, nATAH said:

reduce the price of meal deals NOW

Now THIS I’m here for, even when I got staff discount it wasn’t enough 

[gagzus 26,426]

1 hour ago, Bronco said:

Yep, and the new owner is already committing to store upgrades.

Think they're going to go after Superdrug and try to push them out the market.

Not sure about all Boots’ but they definitely upgraded the range and layouts specifically to fight back against Sephora when stores opened in the North East. 

[Bronco 28,661]

1 hour ago, gagzus said:

Not sure about all Boots’ but they definitely upgraded the range and layouts specifically to fight back against Sephora when stores opened in the North East. 

Mine needs an upgrade or the new Harrods Beauty will run them out. 

Kinda mental Boots failed to get Charlotte Tilbury. 

[monstertoronto 12,050]

Does this mean we’ll get Boots in Canada now?

[Ophelia 5,562]

those are some expensive boots, i bet they were extra sweaty and smelly 

[Sexxx 5,744]

3 hours ago, Bronco said:

Yep, and the new owner is already committing to store upgrades.

Think they're going to go after Superdrug and try to push them out the market.

? Superdrug are no where near as big as Boots lol

[Bronco 28,661]

23 minutes ago, Sexxx said:

? Superdrug are no where near as big as Boots lol

? That's kind of irrelevant. 

They are a market competitor, also trying to do the private medical treatment provider route as well. At a time of market shrinkage, alongside competition from high end brands. Its absolutely someone to push against

[gagzus 26,426]

2 hours ago, Bronco said:

Mine needs an upgrade or the new Harrods Beauty will run them out. 

Kinda mental Boots failed to get Charlotte Tilbury. 

Did they? The ones near me definitely have her stands in them.