Chemist Warehouse in talks to swallow up UK pharmacy chain Boots in the next big move for Aussie juggernaut

By ASHLEY NICKEL, NEWS REPORTER, AUSTRALIA Published: 12:56, 10 June 2026 | Updated: 12:56, 10 June 2026 Many years ago the co-founder of Chemist Warehouse said he built his empire after being inspired by British pharmacy giant Boots, now he's in talks to buy it out. Sigma Healthcare, the owner of Chemist Warehouse, on Wednesday revealed it is in discussion with the owner of Boots to acquire the brand. Sigma Healthcare, the owner of Chemist Warehouse, confirmed a report by the Financial Times that it has put in a bid for The Boots Group, with the company currently asking for $14 billion (US$10 billion). However, Sigma added 'there is no certainty that any transaction will eventuate'. The announcement from Sigma saw its shares fall 4.6 per cent to $2.79 in early trading, the Australian Financial Review reported. Nevertheless, Chemist Warehouse co-founder Mario Verrocchi is hopeful the buy-out could be what his company needs to go global. Sigma is facing impressive competition for the Boots empire, which has around 1,800 stores in the United Kingdom and a 40 per cent market share. The British pharmacy made £7.3 billion (AU$13.4 billion) in revenue in 2024 and posted a £211 million (AU$403 million) profit. Sigma Healthcare, the owner of Chemist Warehouse, is in talks to buy British pharmacy giant Boots The Boots Group (above) is currently up for sale with an asking price of $14 billion It's understood private equity firm Sycamore Partners, the current owner of Boots, is also in talks with Canada's Weston family, which own grocery chain Loblaws and pharmacy chain Shoppers Drug Mart. Sycamore Partners took over Boots last year from its parent company, Walgreens Boots Alliance. The acquisition of Boots would be a full-circle moment for Chemist Warehouse co-founder Verrocchi. In 2023, Verrocchi said he and co-founders Jack and Sam Gance had looked to the British pharmacy giant when planning their own venture in Australia back in 1980. 'I saw Boots and I thought, s***, that's who I want to be,' Verrocchi said. If successful, the deal between Sigma and Sycamore would be the biggest offshore acquisition by an Australian company since 2022, when biotech company CSL bought Swiss drugmaker Vifor for $18.8 billion. However, the possible expansion overseas likely rang alarm bells for investors as popularity in Australia doesn't always translate to success overseas. Verrocchi himself has previously pointed to Bunnings, which failed its expansion into Britain and Ireland a decade ago. Chemist Warehouse co-founder Mario Verrocchi (left) Sigma chief executive Vikesh Ramsunder (right) both previously noted interest in buying Boots The yellow price tags and messy layouts are a deliberate marketing strategy which gives shoppers the impression they've stumbled into a backroom warehouse  Verrocchi in 2023 said he and other Chemist Warehouse (above) co-founders had looked to Boots for inspiration when creating the brand 'We are not that brave,' Verrocchi said in 2023. 'We do everything with our own money so we don't go out and borrow $5 billion to buy a chain in the UK and try and sell barbecues and sausages in a market where it f***ing snows.' Boots is another story in Verrocchi's eyes though, with he and Sigma chief executive Vikesh Ramsunder having previously flagged it as a brand that could be transformed under Chemist Warehouse's vertically integrated model. 'I think we will be better than Boots. Boots used to be my hero. Today, I would say no way in hell. Boots have lost their way,' Verrocchi said last year.  The executives also have the advantage of personal insight of the market with Sigma-owned stores already open in Ireland as well as New Zealand and Dubai. Sigma and Chemist Warehouse officially merged in early 2025 to create a pharmacy giant worth $34 billion. It oversees almost 1,000 stores under the Chemist Warehouse, Amcal and Discount Drug Stores brands. No comments have so far been submitted. Why not be the first to send us your thoughts, or debate this issue live on our message boards. By posting your comment you agree to our house rules. Do you want to automatically post your MailOnline comments to your Facebook Timeline? Your comment will be posted to MailOnline as usual. Do you want to automatically post your MailOnline comments to your Facebook Timeline? Your comment will be posted to MailOnline as usual We will automatically post your comment and a link to the news story to your Facebook timeline at the same time it is posted on MailOnline. To do this we will link your MailOnline account with your Facebook account. We’ll ask you to confirm this for your first post to Facebook. You can choose on each post whether you would like it to be posted to Facebook. Your details from Facebook will be used to provide you with tailored content, marketing and ads in line with our Privacy Policy.