Former Selfridges owners buy UK high street institution from long-term backer Stefano Pessina

The Canadian family that once owned Selfridges department store has bought the UK pharmacy and beauty retailer Boots for $8.9bn (£6.74bn).

Wittington Investments, the holding company of the Weston family that controls the Loblaws grocery chain and Shoppers Drug Mart pharmacy outlets in Canada, will own Boots’ UK and Irish retail operations and opticians chain, the No7 beauty brand and a franchise arm in Thailand.