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Walgreens Boots Alliance has reportedly started the sales process for its Boots international drugstore unit, according to Bloomberg.
Walgreens is said to be “sending out preliminary information on the business to potential suitors ahead of first-round bids due in the coming weeks”.
Boots, which has 2,200 stores in Britain and employs around 55,000 people, is expected to be valued at as much as £7bn.
Buyout firms said to be considering bids include Sycamore Partners, a private equity retail specialist.
Among other potential buyers include TDR Capital, which bought Asda last year with the Issa brothers. Bain Capital and CVC have previously been linked with the sale, while Advent International and KKR and Co are said to be “studying bids”.
Boots runs a chain of roughly 2,200 stores in the UK, featuring brands such as No7 Beauty Company. It has smaller operations in Ireland, Norway, the Netherlands and Thailand, as well as an optician business and a suite of private-label beauty and personal-care brands that could be included in a sale.
