What's next for Boots after £10bn buyout is completed?

RETAIL GIANT'S PARENT COMPANY IS SET TO BE SOLD TO PRIVATE EQUITY FIRM

- By JOSHUA HARTLEY

BOOTS, the high street staple and Nottinghamshire’s largest business, will soon have new owners after a $10 billion deal was approved.

The multi-billion-dollar sale of Walgreen Boots Alliance (WBA), Boots’ parent company, to private equity firm Sycamore Partners will likely be completed later this year.

The massive American company, which has plummeted in value as its worldwide network of pharmacies struggles to compete against online shopping, attempted to sell the Thane Road-headquartered UK health and beauty firm previously for £7 billion. The takeover of WBA by New York-based fund Sycamore Partners could trigger another attempt to offload the major Nottingham employer, which has performed steadily in recent years compared to its parent firm’s huge multi-billion losses elsewhere but also faces stiff competition.

As well as having hundreds of stores across the country - albeit 300 were closed last year - the national retailer still employs more than 6,000 people at its head office between Nottingham and Beeston. So who are the new owners of Boots, and what could they have planned for the 176-year-old city business?

WHAT IS THE DEAL?