LONDON: Reliance Industries (RIL), the domestic giant that bought toy retailer Hamleys a few years ago, has recently looked into another British company. The pharmacy chain plans to buy ‘boots’.
The British newspaper The Financial Times published an article stating that RIL intends to bid jointly with American private equity firm Apollo Global Management.
If the deal materializes, Boots will be able to expand into new Indian, Middle Eastern, and Southeast Asian markets. Wall Greens Boots Alliance is the parent company of Boots, a well-known pharmacy chain in the UK. Walgreen Boots launched the boots in December last year to focus entirely on the healthcare business in their country. May 16 is the last day to submit bids. Boots has over 2,000 stores in the UK.
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