Boots, Britain’s 177-year-old, High Street Pharmacy and retail chain has been sold in an £6.7bn ($8.9bn) deal to Canadian billionaire Weston family according to Wittington Investments, the holding company confirmed to buy from US private equity firm Sycamore Partners and the Pessina family.  The Weston family were ranked fifth on this year’s Sunday Times Rich List with fortune of £19bn and owns the Canadian grocery chain Loblaws, Pharmacy business Shoppers Drug Mart and previously owned the London department stores Selfridges from 2003 to 2021, before selling it for $4billion and major owner of Associated British Foods, the parent company of Primark.

Boots was established by John Boot, who opened the first herbalist store in Nottingham, offering affordable alternative to traditional medicines as early as 1849. Galen Weston, chairman of Wittington, said “Boots palyed a vital role in everyday life across the UK and Ireland”. The deal includes buying Boots’ retail operations in the UK and Ireland, Boots Opticians, No 7 Beauty Company and its Thailand and franchised businesses.

Boots who started as a simple apothecary in Nottingham, eventually became the most trusted High Street Pharmacy selling a vast range of health and beauty products, meal deals and travel accessories. Boots currently has 1,800 branches employing 51, 000 people. Weston who will become the chairman of Boots has fresh plans for the chain, including shop upgrades and expansion of healthcare services.

Sycamore Partners in partnership with Stefano Pessina and his family will retain the ownership of The Boots Group’s Farmacias Benavides in Mexico and Alliance Healthcare Deutschland in Germany.