Weston Family Acquires UK’s Iconic Beauty Retailer Boots for $8.9 Billion

In a landmark health and beauty retail transaction, the Weston family of Canada has confirmed the acquisition of the renowned UK pharmacy and beauty chain, Boots. The deal, worth a whopping US$8.9 billion (around £6.7 billion), inclusive of assumed debt, was announced on October 7, 2026. The family’s holding company, Wittington Investments Ltd., is set to purchase the 1,800-store chain from U.S. private equity firm Sycamore Partners and the Pessina family.

Fairfax Financial Holdings, a Toronto-based firm led by esteemed investor Prem Watsa, is supporting the acquisition with a US$2.3 billion investment. This investment will secure a 50% stake in Boots, while Wittington will maintain full operational control. Galen Weston, the chairman of Wittington and Loblaw Companies, is slated to assume the role of Boots’ chairman once the deal is finalized, which is expected in Q1 2027, subject to regulatory approval.

The acquisition encompasses Boots’ retail operations in the UK and Ireland, Boots Opticians, and notably, the No7 Beauty Company—a highly trusted skincare brand in Britain. With a workforce of 51,000 and stores within reach of 80% of the UK population, Boots holds a dominant position in the British pharmacy market.

The Westons are well-acquainted with the pharmacy retail sector. Their portfolio includes Shoppers Drug Mart, the largest pharmacy chain in Canada. This acquisition marks a significant step in their international expansion. Industry experts view this move as a strong endorsement of the integrated health and beauty retail sector’s future.

Source: BNN Bloomberg – Weston family to buy Boots for US$8.9B