FILE – In an Oct. 5, 2005 file photograph folks stroll by a Boots pharmacy in central London. Drugstore chain Walgreen Co. says it is going to spend $6.7 billion to purchase a stake in well being and wonder retailer Alliance Boots. (AP Picture/Sergio Dionisio)
Walgreens Boots Alliance CEO Roz Brewer mentioned Tuesday that the retailer has begun a strategic evaluate of its Boots enterprise.
In a digital presentation on the J.P. Morgan Healthcare Convention, Brewer confirmed that the corporate is contemplating proceed with the U.Okay.-based drugstore chain. She didn’t say whether or not that will be a sale and, if that’s the case, who is likely to be the client.
“Whereas the method is in an exploratory stage, we do anticipate to maneuver shortly,” she mentioned.
Walgreens has been reportedly contemplating a sale, because it ramps up its focus on health care and competes with U.S. rival CVS Health. Earlier Tuesday, British information outlet Sky Information reported that non-public fairness corporations Bain Capital and CVC Capital Companions were putting together a bid for Boots. It cited unnamed sources and Walgreens didn’t touch upon the report.
Boots has greater than 2,200 shops and roughly 51,000 staff, in keeping with the corporate’s web site. It additionally has a whole bunch of optical practices and listening to care places. Together with promoting drugstore objects, it’s identified for magnificence manufacturers, together with its personal labels like No7 and Cleaning soap & Glory, which have been picked up by main retailers like Ulta Beauty and Walmart.
Shares of Walgreens have been up lower than 1% Tuesday afternoon and have risen about 13% over the previous 12 months.