Walgreens May Sell Boots Pharmacies to Private Equity

Walgreens Boots Alliance (Deerfield, Ill.) may sell its U.K.-based Boots pharmacies to private equity, reports Forbes. London’s Sunday Times reports that Walgreens “received a takeover approach from Bain Capital more than two months ago” and is “positioning itself as a frontrunner in a forthcoming auction for Boots after completing months of due diligence.”

Previous speculation about the pharmacies’ future included a potential spinoff into a separate, standalone organization. Walgreens new management, led by CEO Roz Brewer, has been investing heavily in the U.S. side of the business.

Walgreens operates more than 13,000 retail locations across the U.S., Europe and Latin America, including 2000 Boots stores in the U.K.