Boots bought by Canada's billionaire Weston family for £6.7bn

Updated: 10:06 EDT, 7 October 2026 Canada's billionaire Weston family has confirmed it has bought the Boots Group from Sycamore Partners and the Pessina family for £6.7billion. Wittington Investments, the holding company of the Westons, said the deal included Boots' retail operations in the UK and Ireland, Boots Opticians, No7 Beauty Company and its Thailand and franchised businesses. The Westons are best-known in the UK for the Associated British Foods empire, which contains fashion chain Primark, as well as owning department store Fortnum & Mason.The Canadian side of the family owns the grocery chain Loblaws and pharmacy chain Shoppers Drug Mart through Wittington Investments. They sold Selfridges for £4billion in 2022.It brings an end to months of speculation that The deal has dashed all hopes of a return to the stock market after 19 years for Boots, which would have provided a much-needed boost to the City. British chemist Boots - which began as a family herbal medicine shop in Nottingham in 1849 - has been bought by the Canadian side of the family behind PrimarkBoots boss Alex Baldock, who joined last month, said 'the opportunity ahead is even greater'. Buyout group Sycamore Partners broke up Boots’ former owner, Walgreens Boots Alliance, in August last year after its £7.4billion takeover of the US group, creating the Boots Group in the process.Walgreens Boots Alliance boss, Italian billionaire Stefano Pessina, and his wife, Ornella Barra, continued to own a 44 per cent stake in Boots. Pessina, who has owned Boots for two decades, said it had been 'one of the privileges of my and Ornella's life to have been so closely associated' with the pharmacy chain. He said: '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!'Wittington said it had partnered with Fairfax Financial Holdings, whose portfolio includes investments in the owner of Simba Sleep. The deal does not include businesses including Mexican drugstore Farmacias Benavides and German chain Alliance Healthcare Deutschland. Galen Weston, who will become chairman of Boots, said: ‘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.’‘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.’Boots, which runs around 2,000 stores and has 51,000 staff, has been cashing in on strong beauty sales, as 'K beauty' products by popular Korean brands do well.It is also pinning its hopes on a booming 'wellness market', including vitamin and electrolyte supplements, while the increasing uptake of weight-loss jabs has also given it a boost. The business, which started as a family herbal medicine shop in Nottingham in 1849, last year saw annual sales rise 3.2 per cent to £7.5billionDIY INVESTING PLATFORMSAJ BellAJ BellEasy investing and ready-made portfoliosHargreaves LansdownHargreaves LansdownFree fund dealing and investment ideasinteractive investorinteractive investorFlat-fee investing from £4.99 per monthFreetradeFreetradeInvesting Isa now free on basic planTrading 212Trading 212Free share dealing and no account feeAffiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.Compare the best investing account for you