Boots ‘well positioned’ for future growth amid Sycamore acquisition

The Boots Group has claimed it is “well positioned” for future growth as a private standalone company following the acquisition of Walgreens Boots Alliance by Sycamore Partners, completed in partnership with Stefano Pessina and his family, who have reinvested their full stake.

As part of the separation, Walgreens, Boots, Shields Health Solutions, CareCentrix and VillageMD will now operate as independently owned businesses.

Boots Group will continue to be led by chief executive Ornella Barra and remain headquartered in the UK. 

Its operations include Boots UK and Ireland, Boots Opticians, the No7 Beauty Company, Boots retail pharmacies in Thailand, international franchise operations, Farmacias Benavides in Mexico, Alliance Healthcare Germany and retail investments in China.

Part of the group, Boots UK has undergone a significant transformation in recent years and reported 17 consecutive quarters of like-for-like sales growth. 

Additionally, Anthony Hemmerdinger will continue as senior vice-president and managing director of Boots UK and Ireland.

Barra said: “I am hugely proud of the business that we have created and excited about this new step under new ownership. Sycamore’s retail experience and our strong foundation position The Boots Group to deliver against our strategy of being a leader in our markets and the communities we serve.”

Stefan Kaluzny, Sycamore managing director, added: “The Boots Group is a remarkable institution with deep roots in its communities. As a standalone company, it will now be free to invest and grow more aggressively into the future.”

Pessina concluded: “The Boots Group enters this next chapter with strength and momentum. Our family has supported the company over many years, and we are proud to do so now in partnership with Sycamore.”