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June 29, 2022

Walgreens Will Retain Boots, No7 Beauty

Posted In: Retail Articles

After a review began in January regarding strategic priorities, Walgreens Boots Alliance has decided to keep its Boots and No7 Beauty Co. businesses under existing ownership.

The company announced it arrived at the decision after recent market instability affected financing availability so no third party had been able to make an offer that adequately reflected the high potential value of the two operations. 

WBA noted it had been encouraged to consider a transaction by productive discussions held with various parties and significant interest from prospective buyers before financial markets became more uncertain, the company pointed out. The decision to retain the businesses also had been prompted by the ongoing strong performance and growth of Boots and No7, which exceeded expectations despite challenging conditions.

Boots is the United Kingdom’s leading health and beauty retailer, WBA asserted, and benefits from its unique position as one of the most respected brands in the country. Since its formation at the end of 2014, WBA has invested significantly in Boots and No7, the company pointed out. Given the assets they possess and ongoing potential, WPA stated that it would continue investing in the future of the two businesses.

In announcing the decision WPA CEO Rosalind Brewer, said: “We have now completed a thorough review of Boots and No7 Beauty Co., with the outcome reflecting rapidly evolving and challenging financial market conditions beyond our control. It is an exciting time for these businesses, which are uniquely positioned to continue to capture future opportunities presented by the growing healthcare and beauty markets. The board and I remain confident that Boots and No7 Beauty Co. hold strong fundamental value, and longer term, we will stay open to all opportunities to maximize shareholder value for these businesses and across our company.”


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