Sigma Healthcare abandons plan to acquire Boots

The news: Sigma Healthcare has walked away from its preliminary discussions to acquire UK health and beauty retailer Boots, just weeks after confirming it was evaluating a potential bid.

The context: Sigma said that while the proposed acquisition offered a unique opportunity to expand its UK footprint, a preliminary review had determined the transaction did not meet its strategic and capital investment objectives.

The Chemist Warehouse owner added that although international growth is one of its key strategic pillars as it continues to asses new offshore markets, such as its recent memorandum of understanding with UK-based Greenlight Healthcare, its primary focus remains on the Australian market.