Boots owner eyes £5bn-plus sale of high street giant

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The parent company of Nottingham-based Boots is set to be lining up a sale of the high street giant that could see the company valued at over £5bn.

Wallgreen Boots Alliance (WBA) has reportedly lined up bank Goldman Sachs to advise on a deal which could see new owners for the UK’s biggest chemist.

Sky News says that any sale might not bring forward a change in ownership, with a flotation of the 172-year old firm also being mulled over by WBA.

Boots operates from its headquarters in Beeston on the outskirts of Nottingham. The firm has 2,200 stores and employs 55,000 people.

Boots was taken private in 2006 when Stefano Pessina put together a deal which saw it merge with Alliance Unichem and private equity firm buying the combined group in an £11m deal the following year.

Walgreens snapped up a 45% share of Alliance Boots in 2012, and took charge of the remainder of the business two years later.