Walgreens Boots Alliances (WBA), the parent company of Boots UK Ltd., a British health & beauty retailer & pharmacy chain in the United Kingdom, is reportedly viewing pushing its pharmacy chain on the market in the coming year for £10 billion.
According to sources, the US retail giant- WBA, is lining up with Goldman Sachs consultants to conduct the potential sales of the pharmacy.
Apparently, a private sale or a probable stock market sale could also be considered.
WBA said it wouldn't comment on the market speculations and quoted that Boots, which currently employs 55,000 people and has 2200 stores, is an essential part of the Group.
However, the company proclaims it is correct that the WBA announced a transformed set of priorities and strategic direction in October for the group, which includes a key focus on North America and healthcare.
It has been mentioned that as highlighted during the last WBA investor conference, the group is very much pleased with the Boots performance and international division. Additionally, in contrast with the long-term healthcare strategy, Boots UK endures increasing its healthcare offering.
Moreover, Boots.com is constantly growing above expectations and has more than doubled sales compared to the previous pandemic levels.
The news comes out as Boots reported a rebound of sales in October due to lockdown limitations being eased.
As per credible sources, in the final quarter of its fiscal year to August 31, the company witnessed sales increasing by 12.8 percent to £25 billion for the period.
WBA emphasized on being benefitted from Boots' robust operative performance while growing its pharmacy and retail arms.
Sebastian James, Boots Managing Director, stated that the company sales via its online business have almost doubled in contrast to pre-pandemic levels, with the firm constantly maintaining to grow despite returning high street footfall.