Boots has been sold in an $8.9bn (£6.7bn) deal to Canada's billionaire Weston family, according to BBC News.
The news website reports that Wittington Investments, the holding company, has confirmed it had agreed to buy the 177-year-old retailer on Wednesday from US private equity firm Sycamore Partners and the Pessina family.
Boots has closed hundreds of branches across the UK in recent years, leaving it with about 1,800 stores and 51,000 employees, but remains a familiar British brand.
In its most recent annual results, Boots generated £7.5bn in sales – a 3.2% increase on 2024.
Galen Weston, the chairman of Wittington, will become chairman of Boots.
He signalled the new owners had fresh plans for the chain, including shop upgrades and an expansion of healthcare services.
The Westons were ranked fifth on this year's Sunday Times Rich List with a combined fortune of almost £19bn.