WBA delays Boots IPO amid sale talks
According to people close to the situation, deliberations are ongoing and Walgreens has made no final decision on Boots’ future ownership
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Walgreens Boots Alliance (WBA) has reportedly postponed plans for a possible Boots IPO as talks of a potential sale continue, according to Bloomberg.
It is understood that WBA is currently weighing alternative options for the UK health and beauty retailer, having engaged in “informal” talks with potential buyers such as private equity firms over the past few weeks.
According to people close to the situation, deliberations are ongoing and Walgreens has made no final decision on Boots’ future ownership.
This follows last month’s news that WBA restarted its efforts to find a buyer for Boots for as much as £7bn, as the retailer has an estate of 2,200 stores and 55,000 employees.
Walgreens attempted to sell the British retailer in 2022 but abandoned the process after potential bidders failed to meet the asking price of £7bn.
In November 2023, Boots offloaded its pension scheme to Legal and General for £4.8bn, as a way to make it easier to sell the wider health and beauty estate.
In the same year, Boots also revealed plans to close 300 of its UK stores in the next 12 months to “consolidate” the business via a transformation plan.
Walgreens Boots Alliance has been approached for comment.
