Is Boots a subsidiary of a bigger company?

Boots is the flagship brand of The Boots Group, which is owned by Sycamore Partners. It was part of Walgreens Boots Alliance until August 2025, when Sycamore's takeover split the group into standalone companies.

Is Boots publicly traded?

No. Boots has been privately held since the Sycamore acquisition closed in August 2025. It was also private under KKR and Stefano Pessina from 2007 until the Walgreens merger.

When was Boots founded?

John Boot founded Boots in 1849 in Nottingham, England. His son Jesse Boot grew it into Britain's largest chemist chain by 1900.

Who owns Boots in 2026?

The Boots Group, controlled by Sycamore Partners in partnership with the Pessina family, owns Boots. Walgreens Boots Alliance no longer exists as a public holding company.

Does Boots exist outside the UK?

Boots-branded retail operates mainly in the UK, with franchise formats in the Middle East and Asia. The Boots Group's other businesses cover Mexico (Farmacias Benavides), Germany (Alliance Healthcare), and No7 distribution in the US and elsewhere.

What happened to Walgreens Boots Alliance?

Sycamore Partners acquired WBA for roughly $10 billion in equity value in August 2025. The company was delisted and split into standalone businesses including Walgreen Co. and The Boots Group.

Healthcare & Pharmaceuticals

Who Owns Boots?

Boots is owned by Sycamore Partners through The Boots Group, which became a standalone company when the private equity firm's acquisition of Walgreens Boots Alliance closed on August 28, 2025. Founded in 1849 in Nottingham, Boots operates approximately 1,800 UK stores inside a Boots Group portfolio of about 3,800 retail locations across 11 countries.

Parent Company

Walgreens Boots Alliance

Acquired

2025

Status

Private

Headquarters

Nottingham, England, United Kingdom

Boots Timeline

1849

Boots

Founded by John Boot

Founded

2025

Acquired by Walgreens Boots Alliance

Walgreens Boots Alliance acquired Boots

Acquired

mid rangemass marketUnited KingdomOfficial Website

Who Owns Boots?

Parent Company: Walgreens Boots Alliance
Ownership Type: Subsidiary
Acquisition Year: 2025
Company Type: Privately Held

Brand	Parent Company	Ownership Type
Boots	Walgreens Boots Alliance	Subsidiary

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Boots on Amazon

History of Boots

Founded: 1849
Founders: John Boot
Acquired by Walgreens Boots Alliance: 2025

John Boot opened a small herbal remedy shop in Nottingham in 1849, supplying working families with affordable medicines. His son Jesse Boot transformed the business, expanding manufacturing and retail into a national chain. By 1900, Boots had become Britain's largest chemist, and Jesse was later ennobled as Lord Trent for his role in building the company and endowing what became the University of Nottingham.

Boots invented or popularized several retail formats: dispensing chemists in every high street, in-store beauty halls, the Advantage loyalty card in 1997, and own-label brands including No7 (launched 1935), Soltan, and later Soap & Glory and Liz Earle acquisitions. Boots operated internationally and even ran a manufacturing arm that developed the painkiller ibuprofen in the 1960s, one of the most commercially important drug discoveries ever made by a retailer.

In 2006, Boots Group merged with Alliance UniChem to create Alliance Boots. Private equity firm KKR and deputy chairman Stefano Pessina took the company private in 2007 in Europe's first major buyout of a FTSE 100 company. Walgreens bought 45% of Alliance Boots in 2012 and the remainder in 2014, forming Walgreens Boots Alliance.

WBA explored selling or spinning off Boots repeatedly between 2022 and 2024 but kept it after bids fell short. When Sycamore acquired WBA in August 2025, Boots became a standalone business once more under The Boots Group, with approximately 3,800 retail locations across 11 countries and more than 66,000 colleagues.

About Walgreens Boots Alliance

Is Walgreens Boots Alliance publicly traded?
No. WBA was delisted from Nasdaq on August 28, 2025, when Sycamore Partners completed its acquisition. The company is now privately held and its businesses operate as standalone companies.

Who acquired Walgreens Boots Alliance?
Sycamore Partners, a New York-based private equity firm, acquired WBA in partnership with the family of former executive chairman Stefano Pessina. The deal closed August 28, 2025, paying shareholders $11.45 per share plus contingent value rights, valued at roughly $10 billion for equity and $23.7 billion including debt.

Who is the CEO of Walgreens Boots Alliance?
Following the Sycamore split, the former WBA businesses have separate leadership. Mike Motz, formerly CEO of Staples US Retail, is CEO of Walgreen Co. Former WBA CEO Tim Wentworth (appointed October 2023) remains a director.

What is Walgreens Boots Alliance's revenue?
Walgreens Boots Alliance reported FY2024 revenue of $147.7 billion (fiscal year ended August 31, 2024). The company reported a net loss of $8.8 billion, primarily due to a $5.8 billion VillageMD impairment charge and other goodwill write-downs. Adjusted EBITDA was approximately $4.1 billion.

Why is Walgreens closing stores?
Walgreens announced plans to close approximately 1,200 underperforming U.S. stores as part of a turnaround strategy. The closures reflect declining retail pharmacy margins, competition from online retailers, and the need to optimize the company's physical footprint. The closures have raised concerns about pharmacy access in underserved communities.

What is VillageMD?
VillageMD is a primary care provider in which Walgreens Boots Alliance holds a majority stake. WBA invested $5.2 billion in VillageMD in 2021 with plans to open co-located clinics inside Walgreens stores. The investment has struggled financially, resulting in a $5.8 billion impairment charge in FY2024. WBA has announced plans to reduce its stake in VillageMD.

When was Walgreens Boots Alliance founded?
Walgreens Boots Alliance was formed on December 31, 2014, through the merger of Walgreens and Alliance Boots. Walgreens was founded in 1901 by Charles R. Walgreen Sr. in Chicago. Boots was founded in 1849 by John Boot in Nottingham, England.

Founded: 2014
Headquarters: Deerfield, Illinois, USA
Company Type: Privately Held
Revenue: $147.7 billion (FY2024)
Employees: ~330,000

Visit Walgreens Boots Alliance website

View full company profile for Walgreens Boots Alliance

Where Is Boots Made / Based?

Headquarters: Nottingham, England, United Kingdom
Manufacturing / Operations: United Kingdom

Boots Categories & Tags

Pharmacy Health Beauty Uk Retail Drugstore Boots

Boots Recalls & Controversies

Boots has faced criticism on several fronts. In 2023, it initially refused to sell emergency contraception at a discount, drawing political pressure before reversing course. Its online doctor and pharmacy services have drawn regulatory questions consistent with the broader scrutiny of remote prescribing in the UK.

Like other UK pharmacies, Boots has closed stores amid funding pressure on community pharmacy, prompting local objections when towns lose their only chemist. The Sycamore takeover also drew commentary about private equity's record in UK retail, where leveraged buyouts of chains like Debenhams and Morrisons produced mixed outcomes for workers and creditors.

Boots Ownership: Pros & Cons

Advantages

+Dominant UK position in both pharmacy and prestige beauty
+Strong own-label portfolio, led by No7, with proven US distribution
+Standalone structure under Sycamore allows UK-focused strategy
+Pessina continuity preserves management alignment with the brand's heritage
+Loyalty program and omnichannel reach deepen customer relationships

Considerations

-Private equity ownership raises leverage and eventual exit questions
-UK pharmacy funding pressures squeeze the core dispensing business
-Store rationalization continues amid high-street decline
-Competition intensifying in beauty from Sephora and online players
-Future IPO or sale creates strategic uncertainty

Frequently Asked Questions About Boots

Sources & Further Reading

Competitors to Boots

These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.

Brand	Parent Company	Country	Founded	Market Position	Primary Market	Gender Target
Longs Drugs	Cvs Health	United States	1938	Mass market	United states	All Genders
Duane ReadeSister Brand	Walgreens Boots Alliance	USA	1960	Mass market	United states	All Genders
WalgreensSister Brand	Walgreens Boots Alliance	USA	1901	Mass market	United states	All Genders