- High street retailer Boots is set to be acquired by the Canadian branch of the Weston family via Wittington Investments for US$8.9 billion (£6.7 billion).
- Wittington is partnering with Toronto-based Fairfax Financial Holdings on the deal, acquiring Boots' UK and Ireland retail and pharmacy operations, Boots Opticians, and No7 Beauty Company.
- The takeover signals a return to British retail for the Canadian Weston family, who previously sold department store chain Selfridges for £4 billion in 2022.
- In total, the wider Weston dynasty placed fifth in this year's Sunday Times Rich List, holding a overall fortune approaching £19 billion.
- Galen Weston, chairman of Wittington – who will become chairman of Boots, said: "We see a meaningful opportunity to make a great business even better through stable long-term ownership, further capital investment, and the renewed operating focus required to serve customers with excellence for generations to come."
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