Sigma Healthcare withdraws from Boots takeover talks

Australian pharmaceutical group Sigma Healthcare has withdrawn from talks to acquire the British pharmacy and beauty chain Boots, a potential deal valued at approximately £7.5 billion ($10 billion). The company announced its decision on Monday, June 15, 2026, stating that a takeover would not meet its strategic and capital investment objectives.

Sigma’s exit leaves the billionaire Weston family as the sole known party in discussions with Boots owner, the private equity firm Sycamore Partners. The Weston family’s Canadian operations, which own the grocery chain Loblaws and pharmacy business Shoppers Drug Mart, have been engaged in early talks. Sycamore Partners, which acquired Boots’ parent company Walgreens Boots Alliance last year, has also been laying the groundwork for a potential initial public offering (IPO) of Boots on the London Stock Exchange.

The Australian company said it had considered the acquisition as a unique opportunity to accelerate its expansion in the United Kingdom through Boots’ established brand and extensive network of over 1,800 stores. However, following a preliminary review, Sigma concluded the deal did not align with its current goals. The company...