Australia's Sigma Withdraws Interest in U.K. Retailer Boots

By Stuart Condie

SYDNEY--Australia's Sigma Healthcare withdrew its interest in acquiring Boots, saying a deal for the U.K. drugstore chain would not meet its strategic or capital-investment objectives.

ASX-listed Sigma, which operates Australia's Chemist Warehouse chain, on Monday said it had ended talks following preliminary discussions.

"Sigma engaged in the Boots sale process given the potentially unique opportunity it presented to accelerate its U.K. expansion through the market-leading Boots brand and large footprint," Sigma said in a market filing.

Sigma said it remained committed to driving growth in what it called its core offshore markets.

Sigma, which is valued at about US$21.5 billion, last month agreed a memorandum of understanding with Greenlight Healthcare to launch its Chemist Warehouse brand in the U.K.

Private-equity firm Sycamore Partners, the owner of Boots, has held talks with parties including Sigma and the billionaire Weston family on a possible US$10 billion sale, the Financial Times reported last week, citing people familiar with the situation.

Sycamore took control of Boots last year through the acquisition of parent company Walgreens Boots Alliance.

Write to Stuart Condie at stuart.condie@wsj.com

(END) Dow Jones Newswires

June 14, 2026 19:46 ET (23:46 GMT)