Loblaw owners just bought a popular U.K. pharmacy chain
The Westons, the family behind Loblaw and Shoppers Drug Mart, are adding a major U.K. pharmacy chain to their growing retail empire.
Wittington Investments, the Weston family’s holding company, has struck a deal with Sycamore Partners and the Pessina family to acquire Boots, one of the U.K.’s best-known pharmacy chains, for US$8.9 billion (C$12.6 billion), including assumed debt. Galen Weston Jr., chairman of Wittington, will become Boots’ chairman.
“We have great respect for Boots’ legacy and leading market position,” said Weston Jr. “We see a meaningful opportunity to make a great business even better through stable long-term ownership, further capital investment, and the renewed operating focus required to serve customers with excellence for generations to come.”
According to the release, Wittington is partnering with Toronto-based holding company Fairfax Financial Holdings Limited on the deal, adding Boots to a portfolio that also includes Canadian retailers Sleep Country and The Sporting Life Group.
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Wittington will take over retail operations of Boots in the U.K. and Ireland, as well as Boots Opticians, No7 Beauty Company, and Boots’ Thailand and franchised businesses. It plans to upgrade stores, create a stronger online presence, and further expand available health-care services.
It’s not the first time that the Westons have owned a business in the U.K. The family owned Selfridges Group from 2003 to 2021. The company was acquired by the Central Group and Signa Holding.
With more than 2,800 locations, Loblaw is Canada’s largest grocery retailer.
In 2023, Weston Jr. stepped down as Loblaw CEO, following outrage over soaring food prices and the company’s involvement in an industry-wide bread price-fixing scheme. Per Bank took over as the company’s president and CEO. According to a 2025 report by Maclean’s, Weston Jr. is the third richest person in Canada.