Boots owners mulling possible London IPO - report

21st Apr 2026 13:15

(Sharecast News) - The owners of pharmacy chain Boots are reportedly working with consultants on a possible strategy overhaul to prepare for a potential London stock market listing possibly as soon as 2027.

Private equity owner Sycamore Partners and Boots have held talks with advisers in recent weeks about the possibility of an initial public offering, the Reuters news agency said, citing three unnamed sources.

The consultants have been drafted in to explore growth initiatives around beauty and wellness as well, another source was cited as saying, with all stressing that talks were at a preliminary stage.

Representatives for Sycamore and Boots declined to comment.

Walgreens Boots Alliance was taken private by Sycamore last year in a deal valued at about $10bn. Boots has since split into a standalone entity, with Italian billionaire Stefano Pessina and his family having reinvested in the business.

Pessina told the Financial Times in an interview on April 6 that a sale of Boots is inevitable "sooner or later", citing Sycamore's need to exit. He said the business was being reorganised first and it was too early to say when.

Boots operates more than 1,800 stores across the UK and offers pharmacy services, health products and its own beauty brands.

Reporting by Frank Prenesti for Sharecast.com