Chemist + Druggist is part of Informa PLC


This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.


This copy is for your personal, non-commercial use. Please do not redistribute without permission.

Printed By

UsernamePublicRestriction

Private equity firm makes buyout bid for Boots’ owner, reports say

Boots’ parent company has been approached by private equity firm KKR in what could be the “biggest-ever leveraged buyout”, media outlets have reported.

The global investment firm is “preparing a proposal” to potentially buy out shareholders of Walgreens Boots Alliance, taking the company private, Bloomberg said on Monday (November 11).

It has “formally approached” the US-based health and beauty giant, but the two companies could still “decide against pursuing a deal”, according to Bloomberg.

Walgreens Boots Alliance and KKR declined to comment to C+D.

Walgreens Boots Alliance chief executive officer Stefano Pessina previously partnered with KKR in 2007 to acquire Alliance Boots, seven years before it was bought by Walgreens.

Last week, it was reported that Boots’ parent company was exploring the possibility of a private buyout. However, Reuters claimed that many private equity firms had “pushed back on the idea”, due to concerns about the company’s “business prospects”.

In its latest financial results, Walgreens Boots Alliance reported that its adjusted operating income fell 11.1%, despite overall sales for June-August across the group having increased 2.6% compared with the same period last year.

Income drop and pharmacy closures

The business’s adjusted operating income in its retail pharmacy international division – which includes Boots UK – fell to $194 million (£150.7m) for the same period.

Boots is “on track” to close the remaining 182 of a planned 200 branches before September 2020, it said last month.

What do you think about a planned buyout of Walgreens Boots Alliance?

Related Content

Topics



Pharmacy Dispenser/ Technician
Bethnal Green North, London
Salary: Up to £30,000

Apply Now
UsernamePublicRestriction

Register

CD006192

Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Thank you for submitting your question. We will respond to you within 2 business days. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel