Weighing strategic choices for U.Okay.-based Boots

Weighing strategic options for U.K.-based Boots

FILE – In an Oct. 5, 2005 file photograph folks stroll by a Boots pharmacy in central London. Drugstore chain Walgreen Co. says it can spend $6.7 billion to purchase a stake in well being and wonder retailer Alliance Boots. (AP Picture/Sergio Dionisio)

Sergio Dionisio

Walgreens Boots Alliance CEO Roz Brewer mentioned Tuesday that the retailer has begun a strategic assessment of its Boots enterprise.

In a digital presentation on the J.P. Morgan Healthcare Convention, Brewer confirmed that the corporate is contemplating easy methods to proceed with the U.Okay.-based drugstore chain. She didn’t say whether or not that might be a sale and, in that case, who could be the customer.

“Whereas the method is in an exploratory stage, we do count on to maneuver rapidly,” she mentioned.

Walgreens has been reportedly contemplating a sale, because it ramps up its give attention to well being care and competes with U.S. rival CVS Well being. Earlier Tuesday, British information outlet Sky Information reported that non-public fairness companies Bain Capital and CVC Capital Companions were putting together a bid for Boots. It cited unnamed sources and Walgreens didn’t touch upon the report.

Boots has greater than 2,200 shops and roughly 51,000 staff, in keeping with the corporate’s web site. It additionally has a whole lot of optical practices and listening to care areas. Together with promoting drugstore gadgets, it’s recognized for magnificence manufacturers, together with its personal labels like No7 and Cleaning soap & Glory, which have been picked up by main retailers like Ulta Magnificence and Walmart.

It is a breaking information story. Please examine again for updates.

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