Boots staff ‘unsettled’ over sale rumours
A UNION representing Boots workers has asked for reassurances after reports that the company’s owner is considering a £10 billion sale of the pharmacy chain.
Retail sector union Usdaw wants assurances for members working for Boots after it emerged that the parent company, US retail giant Walgreens Boots Alliance, is considering putting the business on the market next year.
Walgreens Boots Alliance is said to be lining up advisers from Goldman Sachs to explore a potential sale of the pharmacy, with a potential valuation of £10 billion. However, the process is thought to be solely exploratory and may not lead to the sale of the 172-year-old firm.
Usdaw national officer Daniel Adam said: “We note that the company declined to comment on speculation, but acknowledged that the group’s strategic direction ‘includes a more pointed focus on North America and on healthcare.’
“Boots workers are key workers delivering essential services and worked throughout the pandemic. They have contributed to the strong operational performance of Boots and the growth of its retail and pharmacy arms.
“Although at this stage it is only speculation, this is clearly an unsettling time for our members and we are seeking assurances from the company over the future of the business and job security.”
A Walgreens Boots Alliance spokesperson said: “Walgreens Boots Alliance (WBA) does not comment on market speculation and Boots is an important part of the Group.
“However, it is accurate that WBA announced a renewed set of priorities and strategic direction for the group in October, which includes a more pointed focus on North America and on healthcare. The group continues to be very pleased with the performance of Boots and the international division as a whole.
“In line with the group’s long-term healthcare strategy, Boots UK continues to expand its healthcare offering. Furthermore, boots.com continues to grow above expectations having more than doubled sales when compared to pre-pandemic levels.”