Weston Family of Canada Acquires Boots in a Monumental $8.9 Billion Health and Beauty Deal
In a monumental health and beauty deal of the decade, Wittington Investments — the private holding company of Canada’s billionaire Weston family — announced on October 7, 2026, a definitive agreement to acquire the iconic British pharmacy and beauty retailer, Boots, for a staggering $8.9 billion USD, inclusive of debt. The sellers are private equity firm Sycamore Partners and the Pessina family.
The deal includes approximately 1,800 UK and Ireland retail locations of Boots, Boots Opticians, the premium No7 Beauty Company, and its Thailand and franchised operations. Toronto-based Fairfax Financial Holdings is co-investing with an equity commitment of roughly $2.3 billion, taking a 50% equity stake upon closing, while Wittington retains full operational control. Galen Weston, Wittington’s chair and the head of Loblaw and Shoppers Drug Mart, will assume the role of Boots’ new chairman.
The Westons, former owners of London’s Selfridges, bring a wealth of pharmacy and retail expertise to the table. They plan to invest in Boots’ stores and digital offerings, and expand healthcare services. The transaction is expected to close in Q1 2027. For beauty aficionados and consumers across Britain, this acquisition heralds a new chapter for one of the UK’s most cherished health and beauty destinations.
Source: RTÉ News – Canada’s Weston family buys pharmacy chain Boots for $8.9 billion