High street giant Boots is in discussions regarding a potential £7.5 billion takeover, with Australian rival Sigma Healthcare and the billionaire Weston family both expressing interest. The pharmacy and beauty chain, which is the UK's largest health and beauty retailer, has confirmed preliminary talks with Sigma Healthcare, though the Australian group stressed to shareholders that there is "no certainty" any transaction will take place.
Potential Sale or Stock Market Listing
The talks follow a report by the Financial Times suggesting that Boots could opt for a 10 billion US dollar (£7.5 billion) sale instead of a potential stock market listing. Boots has also held discussions with the Canadian branch of the Weston family, which owns the majority of grocery chain Loblaws. The Weston family's British side is the majority owner of Primark through its parent firm Associated British Foods, which also owns grocery brands including Twinings and Ryvita.
Early Stage Discussions
It is understood that talks with both potential suitors are at an early stage. The potential sale comes only a year after Boots was acquired by private equity firm Sycamore Partners, which purchased parent firm Walgreens Boots Alliance for 23.7 billion US dollars (£17.7 billion) in August 2025. Sycamore subsequently split off Boots from the US operations, creating a new UK-based business that includes Boots UK and Ireland, Boots opticians, No7 Beauty company, and pharmacies in Thailand, Mexico, and Germany.
Sycamore is still considering a potential initial public offering (IPO) for Boots on the London stock market. However, a private sale would deal a fresh blow to the London Stock Exchange amid a dearth of new major listings in recent years.
Boots' Market Presence
Boots is the largest health and beauty retailer in the UK with over 1,800 stores. Boots.com is the UK's most visited health and beauty website. The company employs over 51,000 staff.
