The private equity owner of high street pharmacy Boots is reportedly nearing a deal to sell the business to the Canadian branch of the billionaire Weston family for $9bn (£7bn). Sycamore Partners, which acquired the wider Walgreens Boots Alliance for $23.7bn in 2025, is said to be in advanced talks with the Westons, with the Financial Times reporting that a deal could be finalized as soon as next week.
Background on the Weston Family
If successful, this sale would mark the return of the Canadian Weston family to the UK high street, having previously owned Selfridges. The family sold the department store chain for £4bn in 2022. The Westons are well-known in Canada for owning the grocery store Loblaws and the pharmacy chain Shoppers Drug Mart. The UK branch of the family operates its businesses through a separate investment vehicle and holds a majority stake in Primark via the parent company Associated British Foods.
