Canada's Weston family has bought UK pharmacy and beauty chain Boots for $8.9 billion. Their company, Wittington Investments, already controls Loblaws and Shoppers Drug Mart in Canada. Boots has about 1,800 stores in the UK and employs 50,000 people. The deal also includes the No7 beauty brand and an opticians chain.
🔍 The Backstory
Boots is a well-known British high street name. It was sold by its long-term backer, Stefano Pessina. The Weston family once owned Selfridges department store. Canadian firm Fairfax is helping to fund the purchase. Galen Weston is likely to become Boots' chair. The chain has served UK shoppers for over 170 years.
🎯 Why It Matters
Boots is a familiar shop for millions of people who buy medicine and beauty products. New owners could change prices, store numbers and jobs across the UK.
Canada's Weston family has bought UK pharmacy and beauty chain Boots for $8.9 billion. Their company, Wittington Investments, already controls Loblaws and Shoppers Drug Mart in Canada. Boots has about 1,800 stores in the UK and employs 50,000 people. The deal also includes the No7 beauty brand and an opticians chain.
Boots is a well-known British high street name. It was sold by its long-term backer, Stefano Pessina. The Weston family once owned Selfridges department store. Canadian firm Fairfax is helping to fund the purchase. Galen Weston is likely to become Boots' chair. The chain has served UK shoppers for over 170 years.
Boots is a familiar shop for millions of people who buy medicine and beauty products. New owners could change prices, store numbers and jobs across the UK.