Boots sold in £7bn deal to Canadian billionaire family

THE THING NOBODY EXPLAINED PROPERLY IS THAT 6.7 BILLION POUNDS IS AN ABSURD AMOUNT OF MONEY FOR A PHARMACY THAT SELLS MEAL DEALS, BUT THE WESTON FAMILY JUST BOUGHT BOOTS AND HONESTLY THAT IS A WILD AMOUNT OF CASH TO DROP ON A HIGH STREET CHAIN! SO NOW WITTINGTON INVESTMENTS IS TAKING OVER FROM SYCAMORE PARTNERS AND THE PESSINA FAMILY WHICH IS A HUGE SHAKEUP FOR A 177-YEAR-OLD BUSINESS. THE THING IS, FOOTFALL HAS BEEN DROPPING BECAUSE EVERYONE IS WORKING FROM HOME AND THEY HAVE ALREADY CLOSED HUNDREDS OF BRANCHES, LEAVING ABOUT 1,800 STORES STANDING. A RETAIL EXPERT SAYS WE MIGHT GET AN IMPROVED SHOPPING EXPERIENCE EVENTUALLY BECAUSE OF NEW INVESTMENT, WHICH IS A VIBE I GUESS IF YOU LIKE BUYING TRAVEL ACCESSORIES. ANYWAY WHAT ARE YOU DOING LATER?

SO SOMEBODY FINALLY LOOKED INTO IT AND APPARENTLY BOOTS IS UNDER NEW MANAGEMENT AS THE CANADIAN WESTON FAMILY JUST BOUGHT THE WHOLE DAMN THING FOR 6.7 BILLION POUNDS. IT USED TO BE OWNED BY SYCAMORE PARTNERS AND THE PESSINA FAMILY BUT NOW WITTINGTON INVESTMENTS IS RUNNING THE SHOW. THE RETAILER HAS BEEN STRUGGLING WITH CHANGING SHOPPING HABITS AND THEY HAVE ALREADY SHUTTERED HUNDREDS OF SHOPS BECAUSE PEOPLE ARE NOT COMMUTING TO CITY CENTRES ANYMORE. THEY STILL HAVE 51,000 EMPLOYEES AND 1,800 STORES LEFT ON THE HIGH STREET, SO IT IS STILL A MASSIVE OPERATION EVEN IF THE RETAIL EXPERTS SAY WE SHOULD NOT EXPECT INSTANT CHANGES. IT IS JUST ONE OF THOSE MASSIVE CORPORATE DEALS THAT FEELS SURREAL WHEN YOU ARE STANDING IN THE SHAMPOO AISLE. OK BUT WHAT WOULD YOU DO IF THAT WAS YOU?

The Weston family's holding company, Wittington Investments, has acquired the 1,800-store retailer Boots from Sycamore Partners and the Pessina family for £6.7bn.

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