US private equity firm Sycamore Partners has acquired Walgreens Boots Alliance, the owner of the UK pharmacy chain Boots, in a $10 billion takeover deal. The company will be bought at $11.45 per share, an 8pc premium to its closing price on Thursday night.
The move follows a decline in Walgreens’ share price over the past decade, with its value dropping from $90 billion in 2015 to nearly half that amount last year. Industry experts warn that the new owners may be forced to close stores, including Boots pharmacies, due to reduced NHS funding for community pharmacies.
Sycamore Partners has expressed confidence in the UK business, but the acquisition raises concerns about potential store closures and job losses. In a company-wide email, Walgreens’ head of international Ornella Barra assured staff that “nothing is changing,” urging them to focus on their day-to-day work.
The acquisition marks a significant shift for Boots, which has struggled in recent years due to competition from online retailers and reduced payments from health insurers. As the new owner takes control, it remains to be seen how they will navigate these challenges.
Source: https://www.telegraph.co.uk/business/2025/03/07/boots-bought-by-us-private-equity-in-10bn-deal