The Canadian billionaire Weston family has agreed to buy Boots, the UK pharmacy and retail chain, in a deal worth $8.9bn, the BBC reported on Wednesday. The family is already known in retail as the owner of Primark, the budget clothing chain.
The transaction values Boots at roughly £7bn, according to The Telegraph, which also reported the buyer as the family behind Primark. The Financial Times named the purchaser as the Weston family and put the deal at $8.9bn. ITVX reported the same purchase at £6.7bn.
Coverage of the sale emerged across several UK outlets. The Guardian had earlier reported that Boots' owner was nearing a sale to Canada's Weston family for about $9bn. The BBC's headline confirmed the deal on Wednesday afternoon.
The reports differ slightly on the sterling figure, with The Telegraph citing £7bn and ITVX citing £6.7bn, while the dollar value was given as $8.9bn by the BBC and the Financial Times. No further terms, including financing or completion timing, were included in the available reporting.
Boots is one of the best-known names on UK high streets, and the deal would place it under the same family ownership as Primark. The Weston family's retail interests already span clothing and other consumer businesses.
What to watch next: whether the buyer or Boots' current owner confirms the sale officially, and whether regulators in the UK review the change of ownership.
