Boots could be sold or floated by US parent

27th March 2023 | Jack Oliver

Boots is at risk of being sold or floated on the market as its American parent company comes under pressure to break up the pharmacy giant, This is Money has reported.

Walgreens Boots Alliance executive chairman Stefano Pessina and chief executive Rosalind Brewer are being urged by investors and board members to advance plans to refocus the business on the US.

It is reported that the group’s international businesses, including Boots, are viewed as a distraction by some.

Pessina oversaw the deals that brought Boots and Walgreens together in 2012 and 2014, and is believed to be still in support of breaking up the business. He is however not viewing the matter with as much urgency as some would like.

Boots was put on the market in January 2022 for £7 billion, however this was called off in June after no suitable buyers were found.

The British chain lost £58 million in the year to August 2021, against a loss of £278 million made during the pandemic, resulting in thousands of jobs being cut.

It is likely that City officials would push for Boots to be listed in London, rather than New York, should the business be floated.


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