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Sycomore Partners, the private equity owner of Boots, is reportedly in talks to offload the health and beauty retailer in a $10bn (£7.5bn) deal, a move that would see it abandon plans to float on the London stock market, according to the Financial Times.
The group, which gained control of Boots last year following a $23.7bn (£17.8bn) take-private acquisition of its parent group Walgreens Boots Alliance, began preliminary discussions with bidders before Easter.
The FT has learnt that the Canadian branch of the billionaire Weston family, which owns pharmacy chain Shoppers Drug Mart, is among the bidders for the high street chain.
It also said that a Boots acquisition would mark the Weston family’s return to UK retail, following the £4bn sale of Selfridges in 2022.
Australian retail pharmacy group Sigma Healthcare is also in early negotiations after expanding into the UK market last month.
In a statement to the Australian Securities Exchange, Sigma Healthcare confirmed its interest, stating that it had “engaged in preliminary discussions in relation to the sale process”.
However, people familiar with the matter told the FT that talks were at an early stage and no decisions over a sale had been taken.
Following its acquisition of Walgreens, Sycamore divided the group into five separate companies, one of which is Boots.
Sycomore Partners and Boots have been contacted for comment.
