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Boots are reportedly looking for potential sales

Boots parent company Walgreens Boots Alliance (WBA) is working with Wall Street bank Goldman Sachs to consider options that could become new owners of health and beauty retailers. It has been reported.

The debate is exploratory and may not ultimately lead to a sale, according to sources related to Sky News. However, there is a possibility that the chain will move under another listed company.

Boots, which are said to be under negotiation for next year’s sale, are worth more than £ 5 billion going forward. This is one of the most important deals on high street chains over the last few years.

As one of the largest retailers in the country, it operates 2,200 stores and employs 55,000 people.

In recent years, Boots has faced criticisms about its failure to adapt to modernization, but due to its active role as a provider of public medical services, its sales can still trigger scrutiny. Speculation about the sale has recently increased since the WBA dismissed the European distribution sector Alliance Healthcare earlier this year.

“The WBA has announced new priorities and strategic directions for the Group …”

A statement provided by the WBA to publishers states: “The Walgreens Boots Alliance (WBA) has not commented on market speculation, and boots are an important part of the group.

“But it is accurate that the WBA announced new priorities and strategic directions for the group in October, which includes a clearer focus on North America and healthcare.

“As highlighted at the last WBA Investor Conference, the Group remains very pleased with the performance of the boots and the international sector as a whole.”

He added that he continues to expand healthcare products in parallel with online operations, which “sales have more than doubled compared to pre-pandemic levels and have continued to exceed expectations.”

Despite strong numbers, Boots announced last year a 4,000 headcount reduction due to a restructuring of its Nottingham headquarters and store management team. Prior to the pandemic, about 200 UK stores were also closed in connection with changing shopping habits.

Boots are reportedly looking for potential sales

Source link Boots are reportedly looking for potential sales

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