Concluding the company’s review of strategic priorities, Walgreens Boots Alliance, Inc. (WBA) has announced its decision to keep its Boots and No7 Beauty Company businesses under its existing ownership.
The US pharmacy giant Walgreens received significant interest from prospective buyers, however, no third party was able to make an offer that adequately reflects the high potential value of Boots and No7 Beauty Company. Since launching the review in January, the company has found global financial markets to have suffered unexpected and dramatic change, with market instability severely impacting financing availability as a result. WBA therefore decided to focus on further growth and the profitability of the two businesses, supported by their ongoing strong performance.
As the UK’s leading health and beauty retailer, Boots benefits from its unique position as one of the most trusted and well-respected brands in the country. Both Boots and No7 Beauty Company have exceeded expectations despite challenging market conditions.
WBA will continue to invest in the future of the two businesses, as it has done significantly since the alliance’s formation at the end of 2014.
“It is an exciting time for these businesses, which are uniquely positioned to continue to capture future opportunities presented by the growing healthcare and beauty markets,” said Chief Executive Officer, Rosalind Brewer.
Brewer, along with the Board, remain confident that Boots and No7 Beauty Company hold strong fundamental value. In the longer term, the company will stay open to all opportunities to maximise shareholder value for the businesses and across the company.
