Canada's Weston family buys Boots from Sycamore Partners for $8.9bn

Wittington Investments, the Weston family's holding company, has agreed to buy Boots from US private equity firm Sycamore Partners.

• Wittington will own Boots' UK and Irish retail operations, Boots Opticians, the No7 beauty brand and its Thailand franchise arm.
• The transaction, subject to regulatory approval, is expected to close in the first quarter of 2027.
• Galen Weston said the firm sees a meaningful opportunity through stable long-term ownership and further capital investment.
• Stefano Pessina, exiting after two decades with the chain, will retain ownership of Boots' interests in Mexico and Germany.