Boots Nears $9bn Sale to Canada's Weston Family

Sycamore Partners is closing in on a deal to sell the high street pharmacy Boots to the Canadian branch of the billionaire Weston family for $9bn (£7bn), according to a Financial Times report.

The private equity firm, which bought the wider Walgreens Boots Alliance for $23.7bn in 2025, is in advanced talks with the Westons, and a deal could be completed as soon as next week, the newspaper reported.

The transaction would mark the return of the Canadian family to the UK retail market after it sold the Selfridges department store for £4bn in 2022.

A deal at the reported price would hand Sycamore a significant exit for one of the most recognizable assets within the Walgreens Boots Alliance portfolio, barely a year after it took control of the group. It would also place Boots — a fixture of the British high street — under the ownership of one of North America's most established retail dynasties.

For the Westons, the move signals a renewed bet on UK retail after stepping back from Selfridges three years ago. For Sycamore, it marks a rapid restructuring of the pharmacy assets acquired in its $23.7bn Walgreens Boots Alliance takeover.

If talks conclude on the reported timeline, an announcement could come within days, giving UK retail watchers a clear read on how private equity values the country's legacy pharmacy chains.