Australia’s Sigma Healthcare announced Monday that it has stepped away from early-stage negotiations to acquire Boots, the well-known British pharmacy chain, after determining that a deal would not satisfy its strategic and capital investment goals.
Earlier this month, the pharmaceutical wholesaler and retailer had confirmed it was weighing a possible purchase of Boots after media outlets reported the company was among those bidding for the UK health and beauty retailer.
Sigma had viewed the potential acquisition as an opportunity to fast-track its growth in the United Kingdom by leveraging Boots’ recognized brand and wide-reaching presence across the country. However, after completing an initial review, the company chose not to move forward.
Despite walking away from this particular opportunity, Sigma reaffirmed that expanding internationally remains a central part of its long-term strategy. The company said it will continue to focus on growing in its primary overseas markets while also exploring possibilities in new regions around the world.
