The family behind Canada’s biggest pharmacy and grocery chains is growing its empire with the acquisition of U.K. drugstore Boots.
Weston family holding company Wittington Investments said Wednesday that it will purchase Boots for US$8.9 billion (C$12.7 billion), including debt, from private equity firm Sycamore Partners.
Along with Boots’ retail operations in the U.K. and Ireland, Wittington will acquire its operations in Thailand, franchised businesses, its optical division and No7 Beauty Company.
Toronto-based holding company Fairfax Financial Holdings Ltd. will partner with Wittington on the acquisition and after its closing, expected in the first quarter of 2027, Galen Weston will become Boots’ chairman. Wittington having operational control upon close…