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Boots deal transfers ownership to Canadian Westons family in 7 billion pound sale
The acquisition by Wittington Investments includes plans to upgrade Boots' network of 1,800 stores.
Boots, the UK pharmacy and retail chain, is set to begin its 178th year under new ownership after a deal worth £7bn was agreed this week, according to BBC Business.
The sale places Boots under Wittington Investments, the holding company of the Westons, a Canadian retail-focused family that previously owned Selfridges and currently has stakes in other large retailers.
BBC Business also highlights that the new owners plan to upgrade Boots' portfolio of 1,800 stores, with some larger locations already featuring beauty areas that are intended to give a more department-store style experience.
The article says Sofie Willmott, an associate director and analyst at GlobalData Retail, pointed to recent changes at the retailer as business has performed well in recent years.