Boots owner is considering selling the business which could value it at over £ 5bn
The owner of Britain’s largest chemist Boots, who started in Nottingham, is considering the idea of selling the business, which could be valued at over £ 5 billion.
Sky News reports that the process is currently exploratory and may not result in the sale of the chemist.
But it is understood that the Walgreens Boots Alliance (WBA) is seeking a review of options that could lead to new owners, with Wall Street bank Goldman Sachs supposedly seeking advice.
It is also believed that it is possible to turn Boots into a separately listed company.
Boots is one of the county’s largest private sector employees, with 55,000 workers operating in 2,200 stores.
In a statement released to Sky News, the company said, “Walgreens Boots Alliance (WBA) does not comment on market speculation and Boots is a significant part of the group.
“However, it is correct that WBA announced a new set of priorities and strategic directions for the Group in October, which includes a stronger focus on North America and healthcare.
“As highlighted at the last WBA investor conference, the Group continues to be very satisfied with the performance of Boots and the International division as a whole.”
The company added that Boots UK continues to expand its healthcare offering, while its online operations “continue to grow beyond expectations, with sales more than doubling from pre-pandemic levels” .
It is believed that due to a leased store base with many stores tied to long-term leases and the changing nature of consumer behavior, it will be difficult to assess the business.
But according to Sky News, one analyst valued Boots between £ 10 billion and £ 12 billion, while another of their sources believed the likely valuation would be closer to half that range.
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