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Instead, WBA will keep focusing on the further growth and profitability of the two businesses.
06.29.22
Walgreens Boots Alliance Inc. (WBA) has decided to keep its Boots and No7 Beauty Company businesses under its existing ownership. This marks the conclusion of the review that began in January in line with the company’s strategic priorities.
WBA says it was encouraged by productive discussions held with a range of parties, receiving significant interest from prospective buyers. However, since launching the process, the global financial markets have suffered unexpected and dramatic change.
As a result of market instability severely impacting financing availability, WBA claims that no third party has been able to make an offer that adequately reflects the high potential value of Boots and No7 Beauty Company. Consequently, WBA has decided that it is in the best interests of shareholders to keep focusing on the further growth and profitability of the two businesses.
The decision to retain the businesses has also been supported by the ongoing strong performance and growth of Boots and No7 Beauty Company, which have exceeded expectations despite challenging conditions.
CEO, Rosalind Brewer, commented, “We have now completed a thorough review of Boots and No7 Beauty Company, with the outcome reflecting rapidly evolving and challenging financial market conditions beyond our control.”
“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. The Board and I remain confident that Boots and No7 Beauty Company hold strong fundamental value, and longer term, we will stay open to all opportunities to maximize shareholder value for these businesses and across our company.”
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