Weston family agrees to acquire Boots in $8.9bn deal

The Weston family’s investment vehicle, Wittington Investments, has secured a deal to buy the UK pharmacy retailer Boots from its private-equity owner Sycamore Partners for $8.9bn, effectively closing the window on a potential return to the London Stock Exchange. Alex Baldock, Boots' chief executive, said the transaction opens a larger opportunity for the company’s social impact and commercial success. Galen Weston, who chairs Wittington, will become chairman of Boots and emphasized respect for the brand’s legacy and market position.

He noted that stable, long-term ownership and fresh capital will enable a renewed focus on serving customers and communities for generations. The acquisition marks a significant shift in ownership from a U.S. private-equity firm to a family-controlled conglomerate with global retail interests.