What the €9.5bn Boots takeover could mean for Dublin stores as 300 outlets close
The iconic Boots health and beauty chain might change hands as early as this weekend, with whispers of a deal potentially worth up to €9.5 billion nearly sealed. The retail heavyweight was put up for sale by its parent company, Walgreens Boots Alliance, amid significant financial woes that led to the shutdown of 300 UK stores. Despite such extensive closures beginning in June 2023, Boots Ireland announced back then there were no intentions to shut down shops locally, boasting strong performance across the country. There are currently 33 Boots stores in Dublin. While Boots continues to be a hit among Irish consumers, its British operations are struggling, compelling its owners to consider offers for the chain. UK reports suggest that a heavy-duty deal topping £8 billion may be settled with global private equity entity Sycamore Partners before this week concludes, reports Cork Beo. The impending sale of Boots is causing concern over potential further rationalisation and store closures. The chain's current owners had previously announced plans to shut down 400 of the 2,200 UK stores, with 300 already closed and at least another 100 expected to close this year. Despite this significant downsizing, it has paradoxically made Boots more appealing to prospective buyers. In terms of customer loyalty and satisfaction, Boots continues to be a leading name in retail. From September to November 2024, there was an 8.1 per cent increase in overall retail sales compared to the previous year, driven by online sales, the Boots app, and its pharmacies. Moreover, online sales have soared, showing a 23% rise in 2024, with the new Boots app contributing to a significant leap in digital sales. Post-pandemic spending in the health and beauty sector has seen a noticeable uptick. Retail expert Jonathan De Mello from JDM Retail Consultancy suggests that this will "no doubt" result in Boots being sold or going public. He commented: "Boots has performed well over the past few years and is a leaner business overall now with fewer stores and staff, and no pension scheme liability. A stock market listing of Boots could potentially be quite attractive for investors at this point." Join our Dublin Live breaking news service on WhatsApp. Click this link to receive your daily dose of Dublin Live content. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don’t like our community, you can check out any time you like. If you’re curious, you can read our Privacy Notice . For all the latest news from Dublin and surrounding areas visit our homepage.
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