Wittington Investments, Limited, the Weston family holding company based in Canada, announced on October 7, 2026 that it has entered into a definitive agreement with The Boots Group to acquire Boots. The business is majority owned by Sycamore Partners, in partnership with Stefano Pessina and his family. The perimeter covers Boots' UK and Ireland retail operations, Boots Opticians, No7 Beauty Company, and its Thailand and franchised businesses. Sycamore and the Pessina family keep The Boots Group's interests in Farmacias Benavides and Alliance Healthcare Deutschland. Total purchase consideration is US$8.9 billion, including assumed debt, or approximately $12.66 billion at US$1 = $1.4221 on October 7, 2026. Fairfax Financial Holdings Limited is partnering with Wittington, which keeps operational control. Fairfax's release says it gave an equity commitment letter for up to approximately US$2.3 billion and expects to own 50 percent of Boots' equity after closing. Galen Weston, Wittington's chairman, will become chairman of Boots at closing. The deal is subject to regulatory approvals and customary closing conditions and is expected to close in the first quarter of 2027. Wittington's release names Skadden and A&O Shearman as its legal advisors and Davis Polk as legal advisor to The Boots Group.