Sycamore Partners is in advanced talks to sell Boots to Canada's Weston family for $9bn (£7bn), according to the Financial Times. A deal could close as soon as next week, the outlet reported.
Sycamore acquired the wider Walgreens Boots Alliance for $23.7bn in 2025. The sale would carve out Boots, the high street pharmacy chain, and hand it to the Weston family's Canadian branch.
The Westons previously owned Selfridges, the London department store, which they sold for £4bn in 2022. A Boots sale would mark their return to UK retail ownership.
No official confirmation of the deal terms, timeline or completion has been announced by Sycamore, the Weston family or Boots.