Canada’s Weston family, owner of Loblaws, to buy U.K. pharmacy chain Boots for US$8.9 billion

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Canada's Weston family has agreed to purchase the pharmacy chain in a return to the U.K. for the former owner of Selfridges. Photo by Hollie Adams /BloombergThe Canadian branch of the billionaire Weston family agreed to buy health retailer Boots for US$8.9 billion including debt, in another change of hands for the pharmacy chain and a U.K. return for the former owner of Selfridges.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe owner of Canadian grocery chain Loblaws Cos. Ltd. will acquire Boots via its Wittington Investments vehicle from Sycamore Partners and the Pessina family, according to a statement Wednesday. The private equity firm took control of Boots through the acquisition of parent company Walgreens Boots Alliance Inc. in 2025.This advertisement has not loaded yet, but your article continues below.Wittington will buy Boots’ retail operations in the United Kingdom and Ireland as well as certain other businesses.Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try againBoots has been a fixture of U.K. shopping streets for generations, combining a large pharmacy operation with well-known health and beauty brands across more than 1,800 stores. It reported revenue rose 3.2 per cent to £7.5 billion (US$9.9 billion) in its latest full-year results ended August 2025, and there was speculation around an initial public offering under new chief executive Alex Baldock.But in recent years, Boots has changed hands repeatedly in a series of wider corporate transactions, including a leveraged buyout by KKR & Co. Inc. and Stefano Pessina and the later purchase by Walgreens. The Westons will take over with many stores in need of upgrading and refurbishing.Fairfax Financial Holdings Ltd., a Toronto-based holding company, is partnering with Wittington, which will have operational control.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.