Australia's Sigma Healthcare confirms early-stage talks to buy UK's Boots

Australia's Sigma Healthcare said on Wednesday it had engaged in preliminary discussions regarding a potential acquisition of British pharmacy chain Boots, following recent media speculation.

The pharmaceutical wholesaler and retailer said it continuously reviews opportunities that could create shareholder value, but cautioned there was no certainty any transaction would proceed.

The disclosure follows a Financial Times report that Sigma Healthcare, owner of the Chemist Warehouse franchise, was among potential bidders for Boots in a sale process that could value the British health and beauty retailer at about $10 billion.

The move could further deepen Sigma Healthcare's push into the UK market following its May acquisition of a controlling stake in Greenlight Healthcare.

Private equity firm Sycamore Partners, which took control of Boots last year through the $10 billion acquisition of its parent Walgreens Boots Alliance, entered into discussions with potential strategic buyers before Easter, the report added.

A potential sale of Boots would also mark a departure from earlier plans to pursue an initial public offering in London for the British health and beauty retailer, according to the Financial Times.

In April, Reuters reported that Boots' owners were working with consultants on a strategy overhaul ahead of a potential London IPO as soon as 2027, which also included the possibility of a sale.

(Reporting by Roshan Thomas in Bengaluru; Editing by Rashmi Aich)

Copyright Reuters or USA Today Network via Reuters Connect

This story was originally published June 9, 2026 at 5:22 PM.