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Is Ambani exploring options for acquiring Walgreen's Boots chain?   


Richard Blake 
@Richard.Blake · Posted 18 Apr. 2022


Peter Clark 
@Peter.Clark · Updated 18 Apr. 2022

Billionaire Mukesh Ambani’s Reliance Industries Ltd. is weighing a possible bid for Walgreens Boots Alliance Inc.’s international drugstore unit, according to people who are familiar with the matter. It is a U.S company headquartered in Deerfield, Illinois, whose drugstore unit is being looked for acquisition by Reliance Industries Ltd. Reliance is now in the early stages of exploring the feasibility. He has been scouting for deals in Europe that include the Telecom sector. Ambani is pivoting his traditionally refining-focused conglomerate toward businesses that will better help him tap India’s billion-plus consumers. The boots have a market value of $9.1 Billion. Walgreens, which also owns Benavides & Duane Reade, saw its shares rise by 1.8% on Wednesday at 1.38 pm, making the Illinois-based company’s market capitalization almost $39 Billion.


Jack Penn 
@Jack.Penn · Updated 18 Apr. 2022

Walgreens started selling Boots earlier this year & it has attracted interest from private equity firms, including Apollo Global Management & TDR Capital. It attracted Bain Capital & CVC Capital partners, who joined forces & were considered early favorites before giving up their pursuit. Walgreens is thinking of an offer for Boots, which operates a chain of nearly 2200 stores in the UK. There are some other places where Boots also has smaller operations like- Ireland, Norway, the Netherlands & Thailand, as well as an optics company & a range of beauty & personal care brands that can be included in the sale.


Rachael Davis
@Rachael.Davis · Updated 18 Apr. 2022

Boots was founded by John Boot in 1849 with a shop in Nottingham selling herbal remedies. It now has 2200 shops & 550 opticians employing about 51000 people. The U.S.-based Walgreens Boots Alliance Inc. is expected to decide in the upcoming few weeks. In the event of any transaction taking place, it will keep a minority stake in Boots, according to people. The recent sales increases in addition with a strong balance sheet shows that Walgreen is in a solid financial position to create growth opportunities through its acquisition of Alliance Boots. In October, they agreed to invest $5.2 billion in primary care provider Village MD, doubling its stake in the company. Being one of the richest men in India, Ambani’s Reliance is studying a possible bid for Walgreens’s Boots Chain for an international drugstore unit. 


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