Business · Companies · 1 hr ago
Weston family buys Boots for US$8.9 billion, with plans to invest
The Weston family’s Wittington Investments has bought Boots for US$8.9 billion, with backing from Toronto-based Fairfax Financial Holdings.
Boots is a 177-year-old pharmacy, health and beauty chain with about 1,800 locations in the United Kingdom.
The chain has changed owners several times, including a takeover by U.S. pharmacy company Walgreens in 2014 and a sale to Sycamore Partners last year.
Retail experts say years of under-investment have left many Boots stores in need of attention.
Wittington intends to invest in refurbishing stores, while also improving online shopping and the loyalty program, which has 17 million members.
The investment matters because beauty products bring in much of Boots’ sales: non-pharmacy revenue made up about 70 per cent in the fiscal year that ended Aug.
31, 2025.
The Weston family’s holding company, Wittington Investments, agreed to buy British pharmacy and retail chain Boots for US$8.9 billion, with backing from Fairfax Financial Holdings.
Wittington intends to invest in Boots’ stores, according to a source familiar with the deal.
Industry experts say Boots needs investment after years of under-investment and changes in ownership.
Potential areas for investment include store refurbishments, online shopping and the loyalty program, which has 17 million members.
Boots had about 70 per cent of its sales from non-pharmacy revenue in the fiscal year ended Aug. 31, 2025.
- Who
- Wittington Investments, the Weston family holding company, is buying Boots with backing from Fairfax Financial Holdings.
- What
- The deal is an US$8.9-billion acquisition. Wittington intends to invest in the store network.
- When
- The acquisition was announced last week, according to the article published Oct. 13, 2026.
- Where
- Boots is a British chain with 1,800 locations.
- Why
- The stated plan is to invest in the business. Industry experts say it needs attention after years of under-investment.
This story does not have two clearly opposing sides.
Boots merged with Alliance Unichem to create Alliance Boots.
KKR and Stefano Pessina took Alliance Boots private in an £11.1-billion leveraged buyout.
Walgreens took a 45-per-cent stake in the business.
Walgreens took over the business.
Wittington Investments acquired Boots, with backing from Fairfax Financial Holdings.
- Purchase price
- US$8.9 billion
- Boots locations
- 1,800
- Loyalty program members
- 17 million
- Non-pharmacy share of sales
- About 70 per cent in the fiscal year ended Aug. 31, 2025
- Previous takeover
- Walgreens took over Boots in 2014
What people are saying
the U.K.’s most iconic pharmacy, health and beauty business
It needs some love, and it needs a longer-term view
It’s a gold mine
Living under the burden of private-equity debt is always extremely difficult for corporations, because executives are actually incentivized to make sure, first and foremost, that the interest on that debt be paid
Sources
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