Weston family to buy British retailer Boots for $8.9-billion with Fairfax backing - The Globe and Mail

Open this photo in gallery:IDBI Bank headquarters in Mumbai in 2023. Fairfax's purchase of a controlling stake in the bank is the largest foreign investment made in India's financial services sector. Niharika Kulkarni/ReutersFairfax Financial Holdings Ltd. FFH-T is taking on another bank turnaround by acquiring control of India’s IDBI Bank for US$5.6-billion, the largest foreign investment ever made in the South Asian country’s financial services sector. Toronto-based Fairfax is buying a 60.72-per-cent stake in IDBI Bank from the government of India, according to a press release on Wednesday from India’s federal Department of Investment and Public Asset Management.

The Canadian family that once owned Selfridges department store has bought the UK pharmacy and beauty retailer Boots for $8.9bn (£6.74bn). Wittington Investments, the holding company of the Weston family that controls the Loblaws grocery chain and Shoppers Drug Mart pharmacy outlets in Canada, will own Boots’ UK and Irish retail operations and opticians chain, the No7 beauty brand and a franchise arm in Thailand. The acquisition of the Nottingham-headquartered chain, which has 1,800 stores across the UK and employs 50,000 people, is also being backed by the investment firm Fairfax, which owns The Sporting Life Group and Sleep Country, Canada’s largest mattress retailer, which owns Simba Sleep in the UK. Galen Weston, the chair of Wittington, who is likely to become chair of Boots, said: “Boots is one of Britain’s most enduring businesses, with a rich heritage, a trusted name and a vital role in everyday life across the UK and Ireland.

BusinessThe Weston family holding company Wittington Investments said Wednesday that it will purchase the U. K. chain Boots for $8.9 billion US, including debt, from private equity firm Sycamore Partners. Boots is one of Britain's most prominent retailers. U. K pharmacy chain Boots is one of Britain's most prominent retailersTara Deschamps · The Canadian Press · Posted: Oct 07, 2026 10:40 AM EDT | Last Updated: October 7Listen to this articleEstimated 3 minutesThe audio version of this article is generated by AI-based technology. Mispronunciations can occur. We are working with our partners to continually review and improve the results. A sign outside a Boots location is seen in London on May 16, 2011. The family behind Canada's biggest pharmacy and grocery chains is growing its empire with the acquisition of the U. K. drugstore. (Luke MacGregor/Reuters)The family behind Canada's biggest pharmacy and grocery chains is growing its empire with the acquisition of U. K. drugstore Boots.