Key Takeaways:

• Sycamore Partners and the Pessina family sell Boots. 
• Canada’s Weston family partnered with Fairfax Financial on the deal.
• Plans are to invest in stores, online, and healthcare services.

The Canadian branch of the Weston family agreed ‌to buy Boots from Sycamore Partners and the Pessina family.

WHO: For over 177 years, Boots has been at the heart of communities providing the best of care to customers and patients as their first choice for health and beauty. Wittington Investments, the Weston family holding company, will own Boots and 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 available to customers.

The Weston group brings deep expertise developed over decades across retail, pharmacy, and beauty, anchored by owning and operating Canada's leading businesses in these sectors. Loblaw Companies Limited is one of North America's most successful retail enterprises. The company, with 2,800 locations, owns Shoppers Drug Mart, Canada's largest pharmacy, health, and beauty business. Wittington's long-standing connection to the UK includes its past ownership of Selfridges from 2003-2021, during which time it transformed the iconic department store chain into a globally recognized retail destination defined by exceptional customer service and immersive experiences.

Fairfax Financial Holdings Limited, a Toronto-based holding company, is primarily engaged in property and casualty insurance and reinsurance and associated investment management.

WHY: The deal comes a little over a year after Sycamore completed the acquisition of Wal...