Indicative bids for health and beauty giant Boots are expected to be submitted today, it is understood.
The deadline, reported by Reuters, may lead to a sale valuing Boots at as much as £8bn.
Private-equity house TDR Capital, which took control of Asda alongside entrepreneurs the Issa brothers, is thought to be among those interested in Boots, which is being sold by Walgreens Boots Alliance. It is thought to see an opportunity in integrating Boots and Asda.
Other interested parties are thought to include Apollo, Bain Capital, CVC Capital Partners – which is working with Dominic Murphy, who originally orchestrated the £1.1bn takeover of Alliance Boots in 2007 while at KKR – and Sycamore Partners.
However, CD&R, once thought to be a potential buyer, is unable to bid while competition authorities scrutinise its recent acquisition of Morrisons.
One source told Reuters that private-equity groups see the chance to create value from Boots through the provision of primary health services and partnerships with the NHS to make its branches medical hubs offering services such as jabs and physiotherapy.
In January Walgreens Boots Alliance reported that Boots’ sales rose 16.3% year on year in the quarter to November 30, 2021, when basket sizes were 12% higher than pre-pandemic and pharmacy sales advanced 8.8%.
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