Boots, the UK health and beauty retailer, has allegedly scrapped its plans for an IPO listing as it now seeks a potential US$10bn sale instead.
The British retail chain is rumoured to be in talks with Australian pharmacy group Sigma Healthcare over a potential sale, according to a report by the Financial Times, which has cited sources familiar with the matter.
Boots is also rumoured to be in conversation with the billionaire Weston family, a Canadian-British business group known for global operations in food processing, retail and pharmaceuticals, according to the report.
A Boots spokesperson told Cosmetics Business that “Boots is not commenting on this story”.
Sycamore Partners allegedly began exploring options to float Boots Group on the London Stock Exchange in April this year, which would have been earmarked to launch in 2027.
It follows Boots becoming a fully “standalone company” in August 2025, after the acquisition of its parent company, Walgreens Boots Alliance (WBA), by private equity firm Sycamore Partners.
Sycamore Partners completed its deal to buy the UK health and beauty retail chain in partnership with the then Chairman of Boots, Stefano Pessina, and his family.
Pessina and his family stated at the time that they reinvested 100% of their interests in The Boots Group.
Boots Group CEO Ornella Barra recently announced her retirement from her role and will move into the position of Chair, effective 9 February.
She will replace Pessina as Chair of the board of directors of The Boots Group, continuing to oversee the company’s ESG agenda, with Pessina staying on as Director.
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