Boots Sold in $8.9 Billion Deal: Weston Family’s Wittington Agrees to Buy the High Street Chemist

Boots sold: what happened

Wittington Investments announced on Wednesday 7 October 2026 that it has entered into a definitive agreement to acquire Boots and its associated businesses from The Boots Group. The total purchase consideration is $8.9 billion, including assumed debt.

Boots is currently majority owned by Sycamore Partners, in partnership with Stefano Pessina and his family. Sycamore re-established Boots as a standalone company one year ago. Fairfax Financial Holdings, a Toronto based holding company, is partnering with Wittington on the acquisition, and Wittington will have operational control when the deal closes.

The announcement says the buyer plans to keep investing in Boots, including upgrading stores, improving the online experience and supporting the expansion of healthcare services. On completion, Galen Weston, Chairman of Wittington, will become Chairman of Boots. Boots has served UK communities for over 177 years and employs more than 50,000 colleagues, according to the announcement.

What is included in the Boots sale, and what is not

The Weston group owns Loblaw Companies in Canada, which has 2,800 locations and owns Shoppers Drug Mart, Canada’s largest pharmacy, health and beauty business. Wittington previously owned Selfridges in the UK from 2003 to 2021.

What it means for your money

For shoppers: nothing changes today. The sale has been agreed but has not completed, and the announcement contains no price changes, no store closure plans and no changes to Boots ranges. Any change would come after completion in early 2027 at the earliest, and none has been announced.

For patients: Boots pharmacies in the UK and Ireland are part of the business being bought, so your local pharmacy, prescriptions and healthcare services carry on under the new owner once the deal completes. The buyer says it plans to support the expansion of healthcare services, which is a stated plan in the announcement, not a guarantee.

For staff: Boots has more than 50,000 colleagues. The announcement talks about long term ownership, further capital investment and upgrading stores, and it announces no job cuts. That is the position as stated by the companies today; staff should treat the new owner’s investment plans as promises to watch, not as settled facts. If you work in retail and want a backup plan, our make money in the UK guide lists extra income routes that fit around a job.

For the high street: this is a vote of confidence in a famous name, but it does not change what you pay at the till this year. The honest answer on prices is that the announcement says nothing about them.

Boots sale: your questions answered

Has Boots been sold, or is it just agreed?

A definitive agreement has been signed, which is a binding deal, but the sale has not completed yet. It is expected to close in the first quarter of 2027, subject to regulatory approvals and other closing conditions.

Who is buying Boots?

Wittington Investments, the private holding company of the Weston family based in Canada, in partnership with Fairfax Financial Holdings. Wittington will have operational control, and Galen Weston will become Chairman of Boots when the deal closes.

Will my local Boots close?

Nothing in the announcement says stores will close. The buyer says it plans to invest, including upgrading stores. No store by store plans have been published.

Who owned Boots before this deal?

Sycamore Partners was the majority owner, in partnership with Stefano Pessina and his family. They re-established Boots as a standalone company one year ago and will keep the group’s Mexican and German businesses, which are not part of this sale.

Source: Wittington Investments announcement, “Wittington Investments Signs Agreement to Acquire Boots”, 7 October 2026, issued through CNW. Photo: two pharmacists looking at medicine bottles on a pharmacy shelf, Pexels (free to use). Read the primary source here: Wittington Investments: agreement to acquire Boots.