Weston family buys Boots for £6.7bn
Wittington Investments, the holding company of Canada's Weston family, has agreed to acquire Boots' UK and Irish retail operations, Boots Opticians, the No7 Beauty Company and its Thailand franchise arm from Stefano Pessina's long-term backing in a deal expected to complete in early 2027.
Canada's Weston family has agreed to buy Boots, the UK pharmacy and beauty retailer, for $8.9bn (£6.74bn), in a deal that transfers one of Britain's best-known high street names to new ownership. Wittington Investments, the family's holding company, will take control of Boots' retail operations in the UK and Ireland, the Boots Opticians chain, the No7 Beauty Company and the retailer's Thailand and franchise arm.
The seller is Stefano Pessina, the long-term backer of Boots, who has held a controlling interest in the business since 2007. The transaction is expected to close in early 2027, subject to regulatory approval. The purchase price of £6.7bn places Boots among the larger recent deals involving a UK high street retailer, and it returns the chain to family ownership after years under private equity and corporate control.
Wittington Investments is the holding company of the Weston family, which controls the Loblaws grocery chain and the Drugmart pharmacy chain in Canada. The family previously owned Selfridges, the UK department store group, giving it prior experience of running British retail operations. Its existing interests in food and pharmacy in North America mean the Boots acquisition extends its reach into the UK and Irish health and beauty market, where Boots operates a large network of stores and a well-known opticians business.
The deal covers several distinct parts of the Boots group. Alongside the core UK and Irish retail operations, the buyer will own Boots Opticians, the No7 Beauty Company — the brand behind the No7 skincare and cosmetics range — and the Thailand and franchise arm. That structure gives the Weston family control of both the store network and a major own-brand beauty business, as well as an international licensing operation.
Boots has been a fixture on British high streets for decades, and its ownership has changed hands repeatedly. Pessina's involvement dates back to the 2007 merger that created Alliance Boots, which was later acquired by Walgreens Boots Alliance. The sale to Wittington marks another significant shift in the chain's ownership and comes amid wider questions about the future of UK high street retailing, where pharmacy chains and beauty retailers face changing consumer habits and pressure on physical stores.
The transaction is subject to regulatory approval, and the parties expect it to complete in early 2027. Until then, Boots will continue to operate under its existing ownership. The deal's value and the identity of the buyer underline the continued appeal of established UK retail brands to international investors, particularly family-controlled groups with long-term horizons. For the Weston family, the acquisition adds a prominent British pharmacy and beauty business to a portfolio already built around grocery and pharmacy in Canada.
For Boots customers and employees, the immediate effect is likely to be limited while the regulatory process runs its course. The chain's stores, opticians and beauty brands will remain part of the same group during the transition. The completion date in early 2027 means the change of control will not take effect for several months, leaving room for regulators to review the deal and for both sides to prepare for the handover.
2
