Family behind Canada’s biggest grocery chains buys U.K. drugstore Boots - BNN Bloomberg

Retail analyst Bruce Winder reacts to the report of the Westons purchasing Boots and how it will benefit the pharmacy chain. TORONTO — 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 $12.7 billion, including debt, from private equity firm Sycamore Partners. Along with Boots’ retail operations in the United Kingdom and Ireland, Wittington will acquire its operations in Thailand, franchised businesses, its optical division and No7 Beauty Co. Toronto-based holding company Fairfax Financial Holdings Ltd. said it will chip in up to US$2.3 billion for the purchase and after the transaction’s closing, expected in the first quarter of 2027, will have a 50 per cent stake in Boots. Wittington will retain operational control, and Galen Weston will become Boots’ chairman.