# Boots closing on £7 billion sale to Canada’s Weston family – reports

By Dan Coatsworth — 2026-10-01

Dan Coatsworth, head of markets at AJ Bell, can understand why Canada’s Weston family want to buy Boots for £7 billion given their retail experience.

He said: “Boots is reportedly being sold to Canada’s Weston family for close to $9 billion. Private equity group Sycamore acquired Boots last year through the $23.7 billion acquisition of parent group Walgreens Boots Alliance.

“It was never seen as a long-term owner of the UK chemist chain, and there have been various rumours around either selling the business or floating it on a stock market.

“If the deal with the Weston family comes to pass, it seems unlikely that an IPO of Boots would happen any time soon. Stock market flotations are typically an exit route for an owner or a large shareholder. The exception is when an owner wants to raise a substantial amount of money and uses an IPO to tap a large pool of capital.

“This would be a major blow to the London Stock Exchange which has desperately been trying to attract more companies to float in London. Boots is a major name on the high street and exactly the type of brand that could attract retail investors keen to put money into a name they know well.

“The Weston family have fingers in many pies including Primark’s parent Associated British Foods and department store Fortnum & Mason in the UK, and in Canada they own Loblaws supermarkets and Shoppers Drug Mart pharmacy chain. They have considerable experience with retail and Boots would be a logical addition to their empire.

“The family are likely to focus on making Boots run more efficiently and driving growth, potentially investing big sums to improve stores and making it more relevant for the modern age.”

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