Boots set for $9bn sale to Canada's billionaire Weston family

Summarised from 6 outlets · 7 reports · Updated 2 Oct, 11:49 · Archive

Private equity owner Sycamore Partners is in advanced talks to sell Boots to Canada's Weston family for around $9bn.

Sycamore Partners, the private equity owner of Boots, is in advanced talks to sell the pharmacy chain to Canada's billionaire Weston family for approximately $9bn, equivalent to £7bn. The financial Times reported that a deal could be completed as soon as next week, with multiple outlets confirming the advanced stage of negotiations.

Sycamore Partners acquired Boots as part of a wider $23.7bn purchase of Walgreens Boots Alliance in 2025, making the reported sale less than a year after taking control of the business.

The Weston family, which operates the Primark retail chain, previously exited UK retail when it sold the Selfridges department store for £4bn in 2022. The acquisition of Boots would mark their return to the British high street.

The proposed sale would end earlier speculation about a potential London stock market flotation for Boots. Dan Coatsworth, head of markets at AJ Bell, stated that a takeover by the Westons would make it 'unlikely that an IPO of Boots would happen any time soon'. The failed IPO plans represent another setback for London's capital markets.

How it is being reported

• Boots set to be bought by billionaire Canadian family in fresh blow to London stock marketThe chemist could be sold for around £6.8billion. Dan Coatsworth, head of markets at AJ Bell, said a takeover by the Westons would make it 'unlikely that an IPO of Boots would happen any time soon.'This is Money · 1 Oct, 11:53
• Boots set to be bought by Canada's Weston family in fresh blow to London stock marketThe chemist could be sold for around £6.8billion. Dan Coatsworth, head of markets at AJ Bell, said a takeover by the Westons would make it 'unlikely that an IPO of Boots would happen any time soon.'This is Money · 1 Oct, 11:27
• Billionaire Weston family closes in on £7bn Boots takeoverThe Canada arm of the billionaire family behind Primark is inching towards another deal, as it closes in on a £7bn takeover of Boots from its private equity owners. The Westons are in advanced talks to buy the UK pharmacy chain from Sycamore Partners, ending hopes of a potential London IPO. Discussions are ongoing, a [...]City AM · 1 Oct, 10:33
• Boots owner ‘closing in on sale to Canada’s Weston family for $9bn’Deal would mark return of Canadian family to UK after it sold Selfridges department store for £4bn in 2022 Business live – latest updates The private equity owner of high street pharmacy Boots is reportedly closing in on a deal to sell the business to the Canadian branch of the billionaire Weston family for $9bn (£7bn). Sycamore Partners, which bought the wider Walgreens Boots Alliance for $23.7bn in 2025, is said to be in advanced talks with the Westons, with the Financial Times reporting that a deal could be completed as soon as next week. Continue reading...The Guardian · 1 Oct, 10:03
• Boots closing on £7 billion sale to Canada’s Weston family – reportsPrivate equity owner Sycamore is reportedly in advanced talks over the sale, only a year after taking over Boots.Independent Business · 1 Oct, 09:00
• Boots closing on £7 billion sale to Canada’s Weston family – reportsPrivate equity owner Sycamore is reportedly in advanced talks over the sale, only a year after taking over Boots.Evening Standard · 1 Oct, 09:00
• Boots owner nearing $9bn sale of chemist to Canada’s Weston familyTakeover would mark the billionaire family’s return to UK retail four years after its sale of SelfridgesFinancial Times · 30 Sept, 19:59

In this story: Boots · Sycamore Partners · Weston family · Canada · Walgreens Boots Alliance · Selfridges · Primark · London

This summary was written by AI from the headlines and standfirsts above, and states as fact only what at least two outlets report. How we use AI · Report a problem · Corrections log