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Walgreens CEO says company is looking into strategic options for U.K.-based Boots business

FILE – In an Oct. 5, 2005 file photo people today wander by a Boots pharmacy in central London. Drugstore chain Walgreen Co. says it will spend $6.7 billion to purchase a stake in health and fitness and magnificence retailer Alliance Boots. (AP Photograph/Sergio Dionisio)

Sergio Dionisio

Walgreens Boots Alliance CEO Roz Brewer said Tuesday that the retailer has begun a strategic critique of its Boots business enterprise.

In a virtual presentation at the J.P. Morgan Health care Convention, Brewer confirmed that the firm is thinking about how to move forward with the U.K.-based mostly drugstore chain. She did not say no matter whether that would be a sale and, if so, who could be the buyer.

“Whilst the procedure is at an exploratory stage, we do count on to move promptly,” she claimed.

Walgreens has been reportedly thinking of a sale, as it ramps up its concentrate on well being care and competes with U.S. rival CVS Health and fitness. Earlier Tuesday, British news outlet Sky News described that non-public fairness firms Bain Funds and CVC Funds Associates ended up placing alongside one another a bid for Boots. It cited unnamed sources and Walgreens did not remark on the report.

Boots has additional than 2,200 suppliers and around 51,000 employees, in accordance to the firm’s site. It also has hundreds of optical methods and listening to care locations. Along with providing drugstore objects, it is recognized for splendor models, which includes its very own labels like No7 and Cleaning soap & Glory, which have been picked up by significant merchants like Ulta Splendor and Walmart.

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Shares of Walgreens closed at $54.33 on Tuesday, up 1.12% and are up about 14% about the previous 12 months.

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