LONDON, UK: Britain's Boots is set to come under the control of Canada's Weston family in an $8.9 billion deal that includes the pharmacy chain's UK and Ireland retail operations and plans for investment in stores, online services and healthcare.

Wittington Investments, Limited, the Weston holding company, agreed on Wednesday to buy Boots from Sycamore Partners and the Pessina family.

The acquisition includes Boots' retail operations in the UK and Ireland, Boots Opticians, No7 Beauty Company as well as its Thailand and franchised businesses.

"Boots is one of Britain's most enduring businesses, with a rich heritage, a trusted name and a vital role in everyday life across the UK and Ireland," said Galen Weston, Wittington's chairman, who will become chairman of Boots.

"We see a meaningful opportunity to make a great business even better," Weston said.

Boots, based in Nottingham, central England, operates more than 1,800 stores and employs over 50,000 people.

Private equity group Sycamore, in partnership with Pessina and his family, will retain ownership of The Boots Group's other interests, which are in Farmacias Benavides and Alliance Healthcare Deutschland.

The Weston group owns Canadian grocer Loblaw and Shoppers Drug Mart, Canada's largest pharmacy, health and beauty business, and owned London department store Selfridges from 2003 to 2021.

The British side of the Weston family is the majority shareholder of Primark-owner Associated British Foods.

Wittington is partnering with Toronto-based holding company Fairfax Financial Holdings on the deal, with Wittington having operational control.

"Wittington plans to continue to invest to build on Boots' strengths and potential, including upgrading stores, optimizing the online experience and supporting the expansion of healthcare services," it said.

The deal is expected to close in the first quarter of 2027.

Former Currys boss Alex Baldock was recently appointed CEO of Boots, whose former owner Walgreens Boots Alliance was taken private by Sycamore for $10 billion in March 2025.