Weston family agrees to buy Boots in £6.74bn deal
Canada’s Weston family has agreed to buy Boots for $8.9bn (£6.74bn), returning the family to the UK high street after selling Selfridges in 2022. The deal gives the Nottingham-headquartered pharmacy and beauty retailer new long-term owners and could bring further investment and operational changes.
Wittington Investments will acquire Boots’ UK and Irish stores, opticians, No7 beauty brand and Thai franchise business, with backing from Fairfax. Boots has 1,800 UK stores and 50,000 employees; the sale requires regulatory approval and is expected to close in the first quarter of 2027. The chain has already closed more than 300 outlets, and its future investment, services and store footprint remain uncertain.
- The Weston family is buying Boots for £6.74bn.
- The deal is expected to close in early 2027.
- Boots has 1,800 UK stores and 50,000 employees.
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Boots is a long-established pharmacy and beauty retailer with around 1,800 stores across the UK and Ireland. It has been a familiar fixture on British high streets for generations, selling toiletries, cosmetics and over-the-counter medicines alongside prescription services. The chain employs roughly 50,000 people, making any change in ownership potentially significant for the UK retail sector.
The Weston family is a Canadian business dynasty with deep roots in British retail. They previously owned Selfridges, the luxury department store, which they sold in 2022. Their involvement in UK retail stretches back decades, giving them substantial experience in managing high-street operations.
Boots has faced challenges in recent years, including significant store closures and uncertainty about its long-term direction and investment plans. New ownership by an established retail operator could bring fresh capital and strategic changes to the business. The acquisition remains subject to regulatory approval and is not expected to complete until early 2027.
Both sides, in good faith
The strongest fair case each way — we don't pick a winner.
The case for
The Weston family brings substantial retail expertise and genuine long-term commitment through family ownership, having successfully operated major UK retailers previously. New investment and stable ownership under experienced stewards could reverse Boots' recent decline and stabilise employment for its 50,000 workers. Patient capital focused on building sustainable businesses may prove more effective than the previous ownership structure.
The case against
The deal explicitly leaves Boots' future uncertain, with store numbers and service provision undecided despite over 300 outlets already closed. Foreign private ownership with private equity backing raises legitimate concerns about whether investment will serve community and workforce needs or prioritise financial optimisation. The pattern of closures and ongoing uncertainty suggests this may represent managed decline rather than genuine business revival.
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Originally published by The Guardian as “Canada’s Weston family buys Boots for $8.9bn”.