Sycamore Partners agrees $8.9bn Boots exit to Wittington Investments

Sycamore Partners has agreed to exit its ownership of Boots, the pharmacy-led health and beauty retailer, in a deal valued at $8.9bn with Wittington Investments. The headline value places the transaction among the larger retail exits of the period.

Boots, which has operated for 177 years, employs more than 50,000 people. Its portfolio extends beyond its core pharmacy and health and beauty retail operations to include Boots Opticians and the No7 Beauty Company, both of which are within the business being transferred.

The transaction marks a change of control from Sycamore Partners to Wittington Investments. Further terms, including timing and closing conditions, were not detailed in the source material available for this summary.

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