Boots looks to sell off aromatherapy brand for ‘tens of millions’
Boots is reportedly looking to sell off its Aromatherapy Associates brand for ‘a few tens of millions of pounds’ while it plots its own auction, sources have said.
An exact figure is not yet clear, Sky News’ Mark Kleinman first reported.
The parent company of the pharmacy chain, which has been a high street staple for 172 years, has reportedly been lining up advisers such as Goldman Sachs for a potential £10bn sale.
Walgreens Boots Alliance (WBA) has denied that it was looking to sell its subsidiary.
In a statement, WBA said that while it does not comment on speculation, but it was “accurate” that the company had announced a “renewed set of priorities and strategic direction for its future”.
“In line with the Group’s long-term healthcare strategy, Boots UK continues to expand its healthcare offering,” the parent company added.
City PM has contacted Boots for comment.