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Fairfax and Wittington Investments Agree US$8.9 Billion Boots Acquisition

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Fairfax and Wittington Investments Agree US$8.9 Billion Boots Acquisition

THE WHAT? Fairfax Financial Holdings and Wittington Investments have agreed to acquire Boots in a transaction valued at approximately US$8.9 billion, including assumed debt. 

THE DETAILS The transaction covers Boots’ retail operations in the UK and Ireland, Boots Opticians, the No7 Beauty Company, and its Thailand and franchised businesses. Fairfax has committed up to approximately US$2.3 billion and is expected to own 50 percent of Boots following completion, while Wittington will have operational control and Galen Weston will become Chair. The deal is expected to complete in the first quarter of 2027, subject to customary closing conditions. Farmacias Benavides and Alliance Healthcare Deutschland are excluded from the transaction. 

THE WHY? The acquisition places one of the UK’s largest pharmacy, health and beauty retailers and the No7 Beauty Company under long-term ownership backed by investors with significant retail, pharmacy and beauty experience, with Wittington signalling further capital investment and renewed operational focus. 



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