Health & Beauty

Boots owner mulls £10bn sale of chain

Boots currently operates 2200 stores and employs over 55,000 people in the UK making it one of the largest high street retailers

Walgreens Boots Alliance (WBA) is reportedly in talks with Goldman Sachs to discuss the potential disposal of the UK chemist chain in a deal valued at “well over” £5bn, according to Sky News.

City sources told Sky that the chain’s value could be between £10bn and £12bn, adding that it was “unclear whether any emerging bids will be tabled within that range”.

Another source told the publication it was thought the likely valuation would be “closer to half that range”.

In addition, one potential option could involve ”spinning the chain off” into a separately listed company rather than disposing of it completely.

Boots currently operates 2200 stores and employs over 55,000 people in the UK making it one of the largest high street retailers.

The chain is run by Sebastian James, the former chief executive of Dixons Carphone.

In response to the report, the company told Sky News: “Walgreens Boots Alliance (WBA) does not comment on market speculation and Boots is an important part of the group.

“However, it is accurate that WBA announced a renewed set of priorities and strategic direction for the group in October, which includes a more pointed focus on North America and on healthcare.”

It added: “As underlined during the last WBA investor conference, the group continues to be very pleased with the performance of Boots and the International division as a whole.”

Back to top button