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Walgreens’ sale of Boots chain reportedly under way

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DEERFIELD, Ill. — Walgreens Boots Alliance (WBA) is being reported to have started the sales process for its Boots chain in the U.K. after confirming it was considering selling the unit earlier this month. according to Bloomberg News.

The company sent out preliminary information to possible bidders ahead of first-round bids expected in the coming weeks, according to a Bloomberg report. Private equity firm Sycamore Partners is said to be considering a possible offer along with other bidders previously reported. The Boots chain may be valued at as much as 7B pounds ($9.6B) in a sale.

Sycamore, a private equity retail specialist, has joined a small group of other buyout firms exploring bids, the people said. The business could also attract interest from TDR Capital and the Issa brothers, who bought U.K. grocer Asda Group Ltd. last year, the people said.

They would be competing with Bain Capital and CVC Capital Partners, who’ve teamed up and are considered early favorites, people familiar have previously said. Advent International and KKR & Co. are also studying potential bids, people said at the time.


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