×
68
Fashion Jobs
PUMA
Garment Technician Apparel
Permanent · Hong Kong
PUMA
Senior Manager Technical Material Apparel
Permanent · Hong Kong
PUMA
Senior Garment Technician
Permanent · Hong Kong
PUMA
Business Operation Executive
Permanent · Hong Kong
SHISEIDO
Manager - Retail Experience And Operations, Nars
Permanent · Hong Kong
SHISEIDO
Manager - Marketing, Shiseido Fragrance Division And dg Beauty
Permanent · Hong Kong
AESOP
Retail Consultant | Hong Kong And Macau
Permanent · Central
SHISEIDO
Contract Accounting Officer, Finance And Accounts
Permanent · Hong Kong
SHISEIDO
Senior Manager, Finance And Accounts
Permanent · Hong Kong
SHISEIDO
System Analyst (Ecommerce & Integration), Information And Technology Transformation
Permanent · Hong Kong
PUMA
Junior Developer Fabric Apparel
Permanent · Hong Kong
PUMA
Junior Garment Technician (6 Months Contract)
Fixed-term · Hong Kong
SHISEIDO
Senior Officer - Sales & Operations, Shiseido And Drunk Elephant
Permanent · Hong Kong
PUMA
Assistant Manager Product Compliance
Permanent · Hong Kong
SHISEIDO
Senior Officer - Trade Marketing, Retail Experience And Education
Permanent · Hong Kong
SHISEIDO
Senior Officer - Marketing, Shiseido Fragrance Division And dg Beauty
Permanent · Hong Kong
SHISEIDO
Officer - Retail Experience & Operations, Nars And Bare Minerals
Permanent · Hong Kong
GUSTO LUXE (FORMERLY REUTER COMMUNICATIONS)
PR Intern
Internship · 香港
PUMA
Executive, Merchandising
Permanent · Hong Kong
PUMA
Senior Developer Fabric Apparel
Permanent · Hong Kong
FOOT LOCKER
Shift Leader (Asia, hk) Tst
Permanent · Hong Kong
FOOT LOCKER, FOOT LOCKER
Sales Associate Full Time (Asia, hk) Yoho Mall
Permanent · Hong Kong
Published
Mar 1, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Asda owners still in running for Boots buy, others drop out - report

Published
Mar 1, 2022

​The auction for dominant health and beauty chain boots in the UK has seen some key developments this week, according to a report, with one major consortium dropping out but the owners of Asda still in the running.


Boots



Sky News reported that a consortium made up of Bain Capital and CVC Capital decided against submitting an offer last week with the issue believed to be the very high price being sought by owner Walgreens Boots Alliance. It was something of a surprise given that CVC partner Dominic Murphy was involved in the potential bid and has been closely linked to Boots for more than 15 years. He’s also on the WBA board.

The consortium's exit from the bidding reportedly leaves only a few names still interested. They include Asda, Apollo Global Management and Sycamore Capital, with indicative offers of more than £6 billion having been submitted.

None of the parties involved have commented on their involvement. 

As well as the actual purchase price, another issue is the size of the £8 billion Boots pension scheme, which is one of the largest such schemes in Britain. It's well funded but it's believed that its trustees would also seek additional funding if a leveraged buyout of the company happens.

Boots has more than 50,000 employees and operates over 2,000 stores in the UK. It has faced challenges in recent periods, not least because of the pandemic, but it has seen its fortunes recovering of late. 

While it will be interesting to see what private equity buyers might do with the business, it would also be interesting to see how Asda would handle such a purchase. Based on the pattern set by the Sainsbury's purchase of Argos, it could mean branches would close and many could reopen within Asda stores.

Copyright © 2022 FashionNetwork.com All rights reserved.