Nottinghamshire's biggest firm Boots could be sold as part of US owner's $10bn takeover deal

Nottinghamshire's largest firm Boots could be sold as part of a rumoured $10 billion takeover deal being planned for its parent company. Huge American health and beauty group Walgreens Boots Alliance (WBA), which has owned the Beeston-based UK retailer since 2014, could itself be taken over by private equity giant Sycamore Partners in a deal worth billions.

It has been reported that WBA's potential new owners could look to seperate Boots from the rest of the company - once again raising the prospect the major employer could be sold. Walgreens’ billionaire chairman and largest shareholder Stefano Pessina, may end up as the main owner of Boots depending on the deal’s structure, according to Sky News.

WBA attempted to sell the Boots for an estimated £7bn in 2022 but abandoned the plan, as bosses thought the offers they received had undervalued the retailer. The company revisited the idea of a sale or UK stock exchange listing but shelved those plans in June, amid a continued decline in fortunes for the group on the other side of the Atlantic.

Boots' managing director Seb James announced his resignation shortly after and he was replaced by ex-Asda chief operating officer Anthony Hemmerdinger in September. Walgreens reported an $8.6bn net loss in its latest financial year and has dropped from being worth more than $100 billion in 2015 to being valued at under $10 billion.

In contrast, Boots has recently reported an significant uptick in its financial performance, benefiting hugely from its growing online and makeup sales. The high street chemist, which was founded in Nottingham in 1849, has around 8,000 employees at its vast headquarters off in Thane Road, Beeston.