Fri, 07 Mar 2025

Fri, 07 Mar 2025 Boots gets new US owner in multi-billion dollar deal

It is unclear what the deal would mean for Boots and its UK operations.
Walgreens Boots Alliance will be taken private in a $10bn deal, bringing an end to nearly a century of trading on public markets. The US-based company's debt has grown as customers have opted for cheaper online products and store closures have been made across the UK. A total of 300 Boots stores were closed recently in the UK, leaving around 1,900 remaining. Private equity firm Sycamore Partners will pay $11.45 per share for Walgreens Boots Alliance, more than its current stock market value. The deal is expected to be completed by the end of this year and could be worth up to $23.7bn including debt and possible payouts. Walgreens Boots Alliance has seen its stock market value fall by around 80% over the last five years. CEO Tim Wentworth said the company was navigating a "challenging pharmacy industry" and would be better off as a private company. The deal's impact on Boots' UK operations is unclear, with Walgreens having taken a majority stake in the firm since 2012.
  >>