Home
Distressed Businesses
  • All Distressed Businessess
  • Administrations
  • Liquidations
  • Winding Up
  • Insolvency Advice  New
Buy a Business
  • All Businesses for Sale
  • Find a Business for Sale
  • Raising Business Finance
  • Buyer Acquisition Service   New
  • Escrow Service   New
Sell a Business
  • Sell Your Business
  • Seller Accounts
  • Need Help Selling?
  • Help With Finance New
  • Business Valuation
  • Business Wanted Adverts
Insights & News
  • View All News
  • View All Insights
  • Exclusive Insights New
Lens
  • Search all UK Companies  New
Log in
Join Now

Home / News / Walgreens Boots Alliance ditches UK business sale

Walgreens Boots Alliance ditches UK business sale

Wed, 29 Jun 2022 | BUSINESS SALE



US pharmacy company, Walgreens Boots Alliance has ditched the sale of Boots and its No7 Beauty brand, blaming the global financial market conditions.

Boots, which is Britain’s largest chemist will remain under the ownership of the American owners, Walgreens Boots Alliance even though they have been trying to sell it since the end of last year.

Walgreens merged with Boots in 2014 in a deal worth £9bn, but according to reports, none of the offers “adequately reflects the high potential value of Boots and No7 Beauty Company”.

According to Walgreens, “bidders had struggled to arrange bank loans to buy Boots after financial markets suffered unexpected and dramatic change”.

Ornella Barra, Boots operating chief, wrote to the company’s 56,000 staff saying she was “happy to confirm that it has been decided that Boots and No7 Beauty Company will remain part of Walgreens Boots Alliance.

“Boots and No7 Beauty Company are very important to me… both brands are exciting and well-positioned with incredible growth opportunities.”

According to reports, brothers Mohsin and Zuber Issa, owners of Asda were interested in buying the pharmacy and Indian billionaire Mukesh Ambani’s Reliance Industries and US private equity investor Apollo Global Management made a joint £5bn bid, however Walgreens were said to be looking for £10bn when it initially put Boots up for sale.

Rosalind Brewer, Walgreens Boots chief executive, said: “We have now completed a thorough review of Boots and No7 Beauty Company, with the outcome reflecting rapidly evolving and challenging financial market conditions beyond our control.

“It is an exciting time for these businesses, which are uniquely positioned to continue to capture future opportunities presented by the growing healthcare and beauty markets. The Board and I remain confident that Boots and No7 Beauty Company hold strong fundamental value, and longer term, we will stay open to all opportunities to maximise shareholder value for these businesses and across our company.”

Find businesses for sale here.

If you are looking for an exit, we can help!


Share this article



Latest Businesses for Sale

Well-Established Care Provider
UK Wide

Well-established care provider collaborating with local authorities to offer care services home adaptations disability aid products and professional case management & occupational therapy services for a range of ages and disabilities. All of the comp...

Asking Price: Offers Invited
Turnover: £2,520,000

Specialist Contract Packaging and Assembly Company
UK Wide

Specialist contract packaging and assembly company providing a turnkey service offering to leading brands in the pharmaceutical healthcare veterinary and medical device markets across the globe. Operating from its state-of-the-art premises the compan...

Asking Price: Offers Invited
Turnover: £3,400,000

Domiciliary Care Provider
UK Wide

Award-winning domiciliary care specialist delivering unrivalled care provision via 5 regional entities located throughout London and the South Coast under an industry-esteemed franchise brand. Predominantly serving private end-users (94%) engagement...

Asking Price: Offers Invited
Turnover: £8,000,000


View more businesses for sale

News Search

Latest News

 
09
 
Aug
 

Forecourt operator continues expansion with Welsh acquisitions | COMMERCIAL PROPERTY

Forecourt operator Ascona has continued its rapid acquisitiv...

 
08
 
Aug
 

RedCat Pub Company acquires two more South West hotels | BUSINESS SALE

RedCat Pub Company has continued its acquisition spree in th...

 
05
 
Aug
 

EV Technology to acquire Fablink Group at up to 13x gross profits | BUSINESS SALE

Fablink Group has announced that it has agreed to be acquire...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
19
 
Oct
 

EG Group’s £750m Asda forecourts acquisition collapses | BUSINESS NEWS

EG Group has announced that its planned £750 million a...

 
16
 
Jun
 

Competition watchdog approves sale of Asda petrol stations | DIVISION SALE

The UK competition regulator has accepted an offer from pros...

 
21
 
Jul
 

Walmart resumes Asda sale talks | BUSINESS SALE

American grocery giant Walmart has said it has revived talks...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources

Become a Member

News Categories

  • - Business Sale
  • - Division Sale
  • - Administration
  • - MBO/MBI
  • - Merger
  • - Commercial Property

View all news


About Us

Business Sale Report is the UK's leading independent business for sale & distressed business listing service. Established in 1995, the report offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.

Our Services

Businesses for Sale
Distressed Companies
List a Business
Help with Finance
Buyer Acquisition Service
Small Businesses for Sale

Company

About Us
Insights
News
FAQs
Reviews
Terms & Conditions
Privacy Policy

Get In Touch

020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm


Sign up to our free newsletter



© 1995-2022. Business Sale Report Ltd. All rights reserved. www.business-sale.com.