Sigma Healthcare has dropped out of talks over a potential takeover of Boots, the company announced today.
The Australian pharmacy group said that after “preliminary discussions” about acquiring the UK health and beauty giant, its board had “elected to withdraw its interest and cease discussions immediately”.
Read more: Boots pharmacy revenue dips as company’s overall profit grows
Sigma last week acknowledged media speculation around the potential sale of Boots, saying at the time that while it was in early talks about the process, there was “no certainty that any transaction will eventuate”.
And it said today that it had “engaged in the Boots sale process” due to the “potentially unique opportunity it presented to accelerate its UK expansion through the market-leading Boots brand and large footprint”.
But the company found that the deal “would not currently meet its strategic and capital investment objectives”, it added.
Read more: Major Australian pharmacy chain expands into UK market
It comes after Sigma announced in May that its Australian pharmacy chain Chemist Warehouse will enter the UK market through a joint venture with an “employee-owned pharmacy group” in England.
And it follows Boots UK’s latest company accounts revealing that its pharmacy revenue decreased by 0.4% for the year ending August 31, 2025.
