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Nottingham Post
Nottingham Post
National
Joel Moore

Boots remains silent over reports of '£6bn' sale of business

Calls have been made for Boots to provide clarity for its workers as speculation continues over whether or not the company will be sold.

The high street giant was said to be 'exploring' the idea of selling the business towards the end of last year.

Since then, the Times reported that Boots, owned by American firm Walgreens Boots Alliance (WBA), received an approach from US private equity company Bain Capital.

It is also reported that other private equity giants including CVC, Carlyle, KKR, Blackstone and Advent are interested in the business, and that any deal could be between £6 billion to £7 billion.

Lillian Greenwood, MP for Nottingham South, said that workers in its Nottingham head office, as well as at its many stores, should be offered reassurance.

Boots, Thane Road (Nottingham Post)

“The news that Walgreens are looking at the potential sale of Boots UK and that a US private equity firm appears to be interested will have inevitably created uncertainty for staff," said the Labour MP.

"I hope that senior management will set out their plans and offer reassurance to the thousands of people who work for Boots - both in their shops and at their Nottingham head office.”

Daniel Adams, national officer for the Union of Shop, Distributive and Allied Workers, said it was an "unsettling" time for Boots workers.

“Boots workers are key workers delivering essential services and worked throughout the pandemic," he said.

"They have contributed to the strong operational success of Boots and the growth of its retail and pharmacy arms. This is clearly an unsettling time for our members and we continue to seek assurances from the company over the future of the business and job security.”

In a previous statement Walgreens Boots Alliance (WBA) said it "does not comment on market speculation".

It added: "However, it is accurate that WBA announced a renewed set of priorities and strategic direction for the Group in October, which includes a more pointed focus on North America and on healthcare.

"As underlined during the last WBA investor conference, the Group continues to be very pleased with the performance of Boots and the International division as a whole. In line with the Group’s long-term healthcare strategy, Boots UK continues to expand its healthcare offering.

"Furthermore, Boots continues to grow above expectations having more than doubled sales when compared to pre-pandemic levels."

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