Sigma Healthcare in talks to acquire UK pharmacy chain Boots for $14 billion
Sigma Healthcare, owner of Australian pharmacy group Chemist Warehouse, is in preliminary discussions to purchase UK pharmacy chain Boots in a deal valued at more than $14 billion. The sale process is being managed by private equity firm Sycamore Partners, which acquired Boots through Walgreens Boots Alliance last year. The potential acquisition would represent one of the largest UK retail deals since 2021 and marks Sigma's continued expansion into the British market.
Sigma Healthcare confirmed on Wednesday that it is engaged in preliminary discussions regarding the potential purchase of The Boots Group, with the deal reportedly valued at $US10 billion (approximately $14.2 billion). Sycamore Partners, which controls Boots through its acquisition of parent company Walgreens Boots Alliance, began discussions with potential strategic buyers before Easter, according to reporting by the Financial Times. Other parties reportedly involved in discussions include the billionaire Weston family. Sigma noted in an ASX statement that there is no certainty any transaction will eventuate. The Australian pharmacy giant, formed through last year's merger of Sigma Healthcare and Chemist Warehouse Group into a $32 billion ASX-listed entity, has already begun expanding in the UK, including a May acquisition of a 75 percent stake in British group Greenlight Healthcare. Boots has recently appointed new leadership and reported strong financial performance, with comparable retail sales rising nearly 6 percent in the UK last year, driven by growth in beauty products and pharmacy services including vaccinations and weight-loss treatments.
What different sources said
- Sydney Morning HeraldCenter
Chemist Warehouse owner eyes $14 billion deal for UK giant
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