Boots sold in £6.7bn deal including 1,800 stores across UK and Ireland

The UK retail pharma chain was bought by one of Canada’s most affluent families

The Weston family’s holding company, Wittington Investments, confirmed on Wednesday the multi-billion purchase from Syracuse Partners, a US private equity firm.

The deal covers all retail operations in the UK and Ireland, comprising 1,800 stores altogether, including Boots Optician, No7 Beauty Company, and its Thailand and other global franchised subsidiaries.

Galen Weston Jr., who succeeded his late father Galen Weston, is at the helm of Wittington, and is expected to take over Boots as its head too.

Galen said that Boots has played a “vital role in everyday life across the UK and Ireland”.

Founded in 1849, Boots is one of the UK's longest standing businesses, spanning almost 2,000 locations in the British isles and employs over 51,000 people.

"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,” he added.

"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."

The deal is expected to be completed by the beginning of the following year. 

Facing multiple challenges throughout the last couple of years with increasing debt and changing shopping habits, Boots will see new ownership taking on its storied and continued success.

"We see a meaningful opportunity to make a great business even better,” said Galen Weston Jr.

He is optimistic about the deal, hoping to grow the business “through stable long-term ownership, further capital investment, and the renewed operating focus required to serve customers with excellence for generations to come.”