Boots, the UK pharmacy and retailer, has been sold for £7 billion to Wittington Investments, the holding company of the Canadian Weston family. The deal was agreed this week, marking new ownership for the company as it approaches its 178th year.
The Weston family, who previously owned Selfridges and currently own several large retailers across the Atlantic, also control the owner of Primark, Associated British Foods (ABF). The new owners have signalled intentions to expand Boots' healthcare services, an area described as a booming industry.
Upgrading Boots' portfolio of 1,800 stores is also a priority for Wittington Investments. While specific details on future store appearances have not been disclosed, an analyst noted that some smaller stores have lacked investment over time. The Boots Advantage card, launched in 1997, is expected to continue, with a retail expert suggesting it provides a unique understanding of customers.