// Boots could be sold or floated by end of the year as bosses of Walgreens Boots Alliance apply pressure to break up the high-street pharmacy retailer
// Industry experts believe Walgreens should spin off its international operations as soon as possible
Boots could be sold or floated by the end of the year, as its US parent company’s executives face intense pressure to break up the global pharmacy giant.
This is Money reports that investors and board members want Walgreens Boots Alliance executive chairman Stefano Pessina and chief executive Rosalind Brewer to accelerate plans to refocus the company on the US.
Industry experts believe Walgreens should spin off its international operations as soon as possible, citing Boots and other operations in Europe as a “distraction.”
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Pessina, the architect of the two deals that brought Boots Alliance and Walgreens together in 2012 and 2014, is understood to still support splitting up the business but is thought to be less eager to rush.
The Italian businessman was the group’s chief executive until 2021 before former Starbucks boss Rosalind Brewer replaced him.
It would be the second time Walgreens has tried to hive off Boots in as many years.
READ MORE: Why won’t Boots bidders meet Walgreens’ £7 billion price tag?
The parent company put Boots up for sale back in January 2022 with a price tag of £7 billion but this was called off in June after failing to find a buyer willing to pay the fee.
A number of potential buyers had been circling the retailer, including Asda owners the Issa brothers, and a consortium fronted by CVC Capital Partners and Bain Capital.
Apollo and India’s Reliance Industries had emerged as front runners with a joint offer, but their bid was more than £1 billion below WBA’s £7 billion asking price.
At the time the group said it would “continue investing in the future” of Boots and No7.
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