Jun 9, 2022

Boots/Reliance: Ambani could reinvigorate UK chemist chain

UK chemist chain Boots could have a chance to crack it under the aegis of Mukesh Ambani's Reliance Industries. India's largest listed company by market value has teamed up with private equity giant Apollo to make a binding offer to US giant Walgreens Boots Alliance for the bulk of its UK business. It has already breathed new life into struggling UK toy chain Hamleys, which became Reliance's first international retail brand in 2019. Witness the spectacular collapse of India's second-largest chain Future Retail over the past two years. Expect Boots to become a high street name in India as Reliance continues to diversify away from its hydrocarbon roots.

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