Walgreens Boots Alliance reportedly begins Boots sales process

Boots' US-based parent company Walgreens Boots Alliance has started the sale process of the chemist retail chain, reports say.

Walgreens has started sending out information about its business to potential buyers ahead of first-round bids due in the coming weeks. Boots is expected to be valued at £7 billion according to Bloomberg News.

Blackburn-based brothers Mohsin and Zuber Issa, the owners of supermarket chain Asda, are reportedly considering a bid. A joint bid by Bain Capital and CVC Capital Partners has also been reported on. Sycamore, a private equity retail specialist are the latest to consider a bid as well.

Boots UK comparable retail sales increased 16.3% in 2021, compared to the same period the previous year. It operates 2,200 stores including pharmacies and large health and beauty stores, and employs over 50,000 people.