Walgreens-owner Sycamore Partners is close to a deal to sell British pharmacy chain Boots to the Weston family for about $9 billion, the Wall Street Journal has reported, citing people familiar with the matter.
The deal could be completed in the coming weeks if talks do not fall apart, the report said.
A sale would mark a significant step in Sycamore’s plans for Walgreens after the private equity firm took the US pharmacy chain private in 2025 in a deal valued at about $10 billion.
Sycamore later separated the company into five units to make it easier to sell non-core businesses, including Boots, according to the Journal.
Both Sycamore and Boots declined to comment.
Walgreens had been pursuing a turnaround as it grappled with a sharp decline in its market value before being acquired by Sycamore.
