Sigma Healthcare withdraws from discussions to acquire Boots

Australian pharmacy group Sigma Healthcare has withdrawn from discussions to acquire Boots in a deal valued at approximately £7 billion, according to reports.

Sigma Healthcare, a wholesaler and retailer, concluded that Boots no longer aligned with its strategic ‌and capital investment objectives. Sigma had viewed the opportunity as a potential route to accelerate its presence in the UK following its acquisition of a ​controlling stake in the pharmacy chain Greenlight Healthcare ​last month.

Boots has 1,800 UK stores and employs about 51,000 people.

Last year, it was acquired by private equity firm Sycamore Partners after the US investment giant bought parent firm Walgreens Boots Alliance for $23.7 billion. Sycamore then split Boots from the US operations.